The CEO of the Saudi Fund for Development (SFD), Sultan Abdulrahman Al-Marshad, met today with the Ambassador of the Republic of Benin to the Kingdom of Saudi Arabia, Adam Bagoudou Zakari, and his delegation at the SFD’s headquarters in Riyadh.
During the meeting, the two sides discussed development projects and programs in Benin with funding from the SFD. They also reviewed ways to enhance development cooperation between the two sides across various sectors to contribute to social growth and economic prosperity in Benin.
Zakari expressed appreciation for the Kingdom of Saudi Arabia’s development efforts through the SFD, which finances projects and programs that contribute to the infrastructure and basic services for the Beninese people. He highlighted the Kingdom’s active role in international development.
Since 2008, the Kingdom has provided six soft development loans through the SFD, financing five projects and programs in Benin with a total value exceeding USD 105 million. The loans are for multiple sectors including health, education, transport, communications, energy, as well as others. Additionally, the Kingdom of Saudi Arabia gave two grants to Benin of USD 8 million through the SFD to support water security, provide water resources, and reduce the effects of drought through the Saudi Well Drilling and Rural Development Program in Africa.
Source: Saudi Press Agency