The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad (www.SFD.gov.sa), recently signed a new development loan agreement with the Minister of Economy & Planning of the Republic of Tunisia, H.E. Feryel Ouerghi. The agreement entails SFD providing $55 million USD to finance the project for renewing and developing the railway network for phosphate transportation in Tunisia.
This significant agreement was signed in the presence of the Minister of Transport of Tunisia, H.E. Rabie Elmajidi, and the Ambassador of the Kingdom of Saudi Arabia to Tunisia, H.E. Dr. Abdulaziz bin Ali Al-Saqr, along with officials from both nations.
The project aims to renew approximately 190 km of the railway network to enhance the capacity for transporting phosphate. This initiative will not only contribute to Tunisia’s economic growth but also create job opportunities, alleviate road network congestion, and promote overall infrastructure improvement for transportation in the country.
In addition to supporting transportation infrastructure, SFD’s CEO, accompanied by the Saudi Ambassador to Tunisia, inaugurated 270 housing units in the Zaghouan Governorate. This marks the first phase of the Riyadh Housing Project, which will deliver a total of 4,715 housing units. The project, financed by SFD through a soft development loan exceeding $150 million USD, aims to improve living standards, create job opportunities, and contribute to socio-economic growth and prosperity in various regions of Tunisia.
Since 1975, SFD has financed 35 development projects and programs in Tunisia, totaling over $1.3 billion USD. These projects have supported key sectors like social infrastructure, transportation, communication, energy, and rural development in the country.
Media Contact:
Randah Alhothali
Director General: Corporate Communications
Email: ralhothali@sfd.gov.sa
Mobile: +966 55 450 0881
Nawaf Alojrush
Director: Media Relations
Email: alojrush@sep.gov.sa
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About the Saudi Fund for Development:
The Saudi Fund for Development (SFD) is a government entity that provides soft development loans and grants to finance development projects and programs in developing countries. Since its establishment in 1975, SFD has financed over 800 projects worth US$20 billion in more than 100 countries, focusing on various sectors to support socio-economic development and improve living standards in disadvantaged communities. SFD’s activities align with international development principles and contribute to achieving the UN’s Sustainable Development Goals through partnerships and cooperation with regional and international organizations. www.SFD.gov.sa