Riyadh – Mubasher: The Saudi Fund for Development (SFD) has provided soft development loans and grants totalling $18.70 billion from 1975 until the end of 2022.
A total of 739 loans were secured to finance development projects and programmes in 84 developing countries around the world, SFD highlighted on the X platform, formerly known as Twitter.
The fund endorsed development grant projects in 23 countries across Asia, Africa, and other regions, with a total value of $19.40 billion.
SFD underlined that the loans and grants “supported socio-economic development and enhanced the lives of many.”
Earlier this month, the Saudi fund announced an investment valued at $20 million for the construction of the new Mangoky Bridge, which is the longest bridge in Madagascar, measuring over 800 metres.
