Saudi Fund for Development, Global Water Organization Partner to Support Water Projects Worldwide

Riyadh, October 07, 2024, SPA -- Saudi Fund for Development (SFD) CEO Sultan Al-Marshad and Dr. Fahad Abu Mouti, head of the founding team of the Global Water Organization, signed today a memorandum of cooperation to establish a general framework for international development cooperation and to leverage the fund's expertise in financing water projects worldwide, contributing to the achievement of sustainable development goals in various countries.
In an SFD press release issued today, Al-Marshad said: "This memorandum reflects the Saudi Fund for Development's efforts over the past 50 years in boosting international cooperation in the field of water resource management and water security. This partnership will enhance the provision of innovative financing options to support water projects."
Abu Mouti said the memorandum is an important step toward expanding cooperation between the organization and the fund, adding that “we look forward to implementing projects and initiatives that contribute to achieving sustainable development in the field of water globally".
Since 1975, SFD has contributed to financing 147 development projects and programs in the water sector, including in the field of water security, in various developing countries around the world. This has been achieved through developmental loans and grants amounting to over $6 billion.
The fund has drilled and equipped more than 8,800 water facilities as part of the Saudi program for drilling wells and rural development in Africa, in line with efforts aimed at contributing to global growth and prosperity.
-- SPA