Saudi Arabia’s SFD signs $987m development loan agreements

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The Saudi Fund for Development (SFD) signed 17 development loan agreements with 13 countries during fiscal year 2024, with a total value of $987m (SAR3.7bn), supporting projects that drive sustainable development and reinforce the Kingdom’s role as a leading provider of international development assistance.

According to SFD’s 2024 Annual Report, the financing included:

• $90m (SAR337.50m) across two loans in Africa,

• $307m (SAR1,147.50m) through five loans in Asia and the Pacific,

• $220m (SAR821.75m) for four loans in Europe, and

• $374m (SAR1,395m) for six loans in Latin America and the Caribbean.

The 2024 agreements also marked the Fund’s expansion into five new countries: Saint Kitts and Nevis, El Salvador, Nicaragua, Dominica, and Serbia.

Over the past five decades, the SFD has financed nearly 800 development projects and programs across 100 countries, with a total value exceeding $21.6bn (SAR81bn), contributing to growth, prosperity, and long-term sustainable development worldwide.