The Saudi Fund for Development (SFD) has entered into 17 agreements for development loans with 13 nations in the fiscal year 2024, amounting to $987 million (SAR 3.7 billion). This initiative aims to promote sustainable development and enhance the Kingdom’s status as a key contributor to international development aid.
As detailed in SFD’s Annual Report for 2024, the breakdown of the financing is as follows:
- $90 million (SAR 337.50 million) allocated through two loans in Africa.
- $307 million (SAR 1,147.50 million) granted via five loans in Asia and the Pacific.
- $220 million (SAR 821.75 million) provided through four loans in Europe.
- $374 million (SAR 1,395 million) offered for six loans in Latin America and the Caribbean.
This year’s loan agreements also signify the Fund’s foray into five new countries: Saint Kitts and Nevis, El Salvador, Nicaragua, Dominica, and Serbia.
In its 50-year history, the SFD has supported nearly 800 development initiatives and projects in over 100 countries, with total financing surpassing $21.6 billion (SAR 81 billion). This investment has significantly contributed to global economic growth, prosperity, and long-term sustainable development.