Riyadh: The Saudi Fund for Development (SFD) participated in the 2024 Annual Meetings of the Islamic Development Bank Group (IsDB Group) held in Riyadh, Saudi Arabia, from April 27 to 30. The event coincided with the IsDB Group’s golden jubilee celebration themed “Cherishing our Past, Charting our Future: Originality, Solidarity, and Prosperity.”

During a dialogue session of the Arab Coordination Group on the sidelines of the meetings, SFD’s contributions to development efforts were highlighted. SFD CEO Sultan Abdulrahman Al-Marshad underscored the importance of strengthening partnerships between the Arab Coordination Group, international organizations, and development institutions.

A key announcement from the SFD included a commitment to enhancing support for financing innovative smart education initiatives. This aligns with the SmartEd initiative, aiming to expand access to quality and comprehensive smart education in developing countries. This focus on education empowers these nations to keep pace with a
dvancements in knowledge and build human capital for a brighter future.

The SFD also showcased its work through an interactive pavilion throughout the event. Visitors were able to explore the fund’s most prominent projects and development programs implemented in developing countries over the past 49 years.

This participation underscores the SFD’s longstanding commitment to fostering development partnerships and international cooperation for achieving sustainable development goals.

Since its inception in 1975, the SFD has supported and financed over 800 development projects and programs in more than 100 developing countries around the world. This cumulative activity represents a total investment exceeding $20 billion, aimed at strengthening sustainable development across various sectors and fostering diverse opportunities for economic and social growth.

Source: Saudi Press Agency