SFD’s CEO, H.E. Sultan Al-Marshad, poses for a photo with the with the Minister of Foreign Affairs and Foreign Trade of Jamaica, Hon. Kamina Johnson Smith following the signing of a Memorandum of Understanding (MoU).
SFD’s CEO, H.E. Sultan Al-Marshad (right), poses for a photo with the Prime Minister of the Republic of Haiti, Hon. Ariel Henry following the signing of a Memorandum of Understanding (MoU).
RIYADH, RIYADH, KINGDOM OF SAUDI ARABIA, November 19, 2023 /EINPresswire.com/ — Saudi Fund for Development Signs two Framework MoUs with Jamaica and Haiti to Advance Sustainable Development and Economic Growth
The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today two developmental Framework Memorandum of Understandings (MoUs) with the Prime Minister of the Republic of Haiti, Hon. Ariel Henry and the Minister of Foreign Affairs and Foreign Trade of Jamaica, Hon. Kamina Johnson Smith in the presence of the Prime Minister of Jamaica, Hon. Andrew Holness. The signing ceremony took place on the sidelines of the Saudi – CARICOM Summit held in Riyadh, Kingdom of Saudi Arabia.
The purpose of these MoUs is to establish a framework for promoting development cooperation, and to provide development support in various sectors in Jamaica and Haiti through SFD. Through these MoUs, projects in key developmental sectors will be identified and SFD will aim to provide funding to support the socio-economic and sustainable development of both countries.
Both MoUs are a testament to SFD’s commitment to supporting sustainable development in the Caribbean region, and reaffirm the importance of international cooperation and solidarity to achieve the SDGs and foster social and economic growth, particularly, in Small Island Developing States (SIDS).
In line with its mission to promote global sustainable development since 1975, SFD has funded more than 800 development projects worth $20 billion in over 100 countries around world. The SFD has been actively engaged in development projects within CARICOM member states for nearly four decades. Since the beginning of this year, it has provided approximately $670 million in financing for 12 development projects.
About the Saudi Fund for Development
The Saudi Fund for Development (SFD) is a government entity that provides soft development loans and grants to finance development projects and programs in developing countries.
Since 1975, SFD has financed over 800 development projects worth US$20 billion in over 100 countries around world across various sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining, and others. The projects support generating socio-economic development and help to improve the living standards of disadvantaged communities in countries most in need. SFD’s activities are aligned with the international development principles and contribute towards realizing the UN’s Sustainable Development Goals. Moreover, it unifies its efforts in development support through partnerships and cooperation with regional and international organizations.
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