Saudi Fund For Development Celebrates 50 Years Of Global Impact With Over $20 Billion In Development Contributions

RIYADH, Saudi Arabia, Sept 4 (Bernama) -- The Saudi Fund for Development (SFD) celebrated its 50th anniversary in Riyadh today, under the theme "50 Years of Global Impact." The event brought together key development partners to reflect on the SFD’s significant contributions to sustainable development worldwide. Over the past five decades, the SFD has allocated over $20 billion, financing more than 800 development projects and programs in vital sectors, including social infrastructure (education, healthcare, water and sewage, and housing and urban development), communication and transportation (roads, railways, airports and seaports), energy, agriculture, mining and industry, and others.

Since its inception in 1974, the SFD has been the international development arm of the Kingdom of Saudi Arabia and has provided critical support to over 100 developing nations around the world. With a strong focus on supporting countries to achieve the Sustainable Development Goals (SDGs), the SFD has played a pivotal role in driving sustainable development in Least Developed Countries (LDCs) and Small Island Developing States (SIDS).