Gaibandha: The Saudi Fund for Development (SFD), represented by Director General of Asia Operations Dr. Saud Ayid Al-Shammari, took part in the inauguration of the “Construction of Bridge over Teesta River in Gaibandha Project in the People’s Republic of Bangladesh”. The ceremony was attended by Bangladesh’s Local Government and Youth and Sports Adviser, Asif Mahmud Shojib Bhuyain.
According to Saudi Press Agency, the project, valued at $50 million, is financed through a concessional development loan provided by the Saudi Fund for Development. This initiative underscores the enduring development partnership that has existed between SFD and Bangladesh for nearly 48 years.
The development involves the construction of a pre-stressed concrete bridge approximately 1,500 meters long. It is designed to connect isolated villages along the Teesta River in Gaibandha with the main road network, enhancing safe mobility for residents and facilitating the transport of goods to markets and neighboring areas. This, in turn, is expected to strengthen trade and economic exchange of agricultural and industrial products, contribute to the growth of vital sectors, and support the development and prosperity of local communities.
Since 1977, when SFD began its development activities in Bangladesh, it has financed 16 development projects and programs with concessional loans exceeding $494.7 million. Additionally, Saudi Arabia, through SFD, has extended a grant worth more than $106 million to mitigate the impacts of cyclones by funding 13 development projects and programs across various sectors, including water, energy, health, and roads, thereby contributing to social growth and sustainable economic prosperity in Bangladesh.