Saudi Fund for Development has provided over $8.23 billion in foreign grants since 1975
July 1, 2010
The Saudi Fund for Development (SFD) has provided SR 30.86 billion ($8.23 billion) to 75 countries between 1975 and 2009.
In Africa, the SDF has funded 262 development projects in 43 countries totaling SR 14.96 billion ($3.99 billion); in Asia, it has funded 180 development projects in 26 countries totaling SR 15.35 billion ($4.1 billion); and in Europe, 6 projects in three countries totaling SR 404.85 million ($107.9 million). Other development projects funded included a hydroelectric plant in Brazil; a rural water supply rehabilitation project in Western Samoa; a highway project in Jamaica; and two port expansions and a water desalination project in Malta.
The SFD plays a prominent role in extending development loans to developing countries to support their efforts at boosting their economies.