Saudi Development Fund’s CEO Receives Somali Ambassador

Riyadh: The Chief Executive Officer (CEO) of the Saudi Fund for Development (SFD), Sultan Abdulrahman Al-Marshad, received Somali Ambassador Owais Haji Yusuf on Sunday at the SFD headquarters in Riyadh.During the meeting, they discussed the SFD's longstanding development activities in Somalia, which have spanned over 47 years. Al-Marshad and Yusuf also explored collaborative development topics related to the projects and programs funded by the SFD in Somalia.Since 1977, the SFD has supported Somalia with five development projects and programs through soft development loans, totaling about $134 million. In addition, the Kingdom has granted the Somali government two grants worth $80 million through the Fund.These projects, targeting various essential sectors, aim to enhance infrastructure development, thereby promoting social development and economic prosperity in Somalia.Source: Saudi Press Agency