The Saudi Fund for Development… 50 years of giving
Tweet by Ibrahim Al-Tasan
On the occasion of the fiftieth anniversary of the founding of the Saudi Fund for Development, its important and growing role is highlighted as a fundamental pillar in supporting sustainable development around the world.
Therefore, the recent Cabinet session had a wonderful presence for the Fund by praising its role over half a century.
Since the Fund was established in 1974, it is considered one of the prominent institutions that represents the Kingdom of Saudi Arabia in providing development assistance to developing and least developed countries.
This occasion comes to shed light on the Fund’s achievements over half a century, and the great contributions it has made to improving the lives of millions of people in various parts of the world without harm, harm, or exploitation of the need in poor countries and asking for it in return.
Rather, it provides this aid and support based on its humanitarian role and commitment to its values and responsibilities towards the less fortunate and most difficult communities.
Since its establishment, the Saudi Fund for Development has focused on financing development projects in developing countries, as it has financed more than 700 development projects in more than 80 countries. These projects have included diverse fields such as infrastructure, education, health, agriculture, and energy.
These projects are distinguished by the fact that they not only provide immediate solutions to the basic needs of the beneficiary countries, but also contribute to building their capabilities and enhancing the sustainability of their development in the long term.
The importance of the Saudi Fund for Development is evident in the diversity of its projects and its ability to meet different needs according to the nature of each country.
For example, in the field of education, the Fund has contributed to building schools and universities, and providing scholarships to students from developing countries, giving these young people opportunities to learn, develop, and contribute to building their countries.
In the field of health, the construction of hospitals and health centers was financed, in addition to providing them with the necessary medical equipment, which led to improving health services and reducing disease and mortality rates in many beneficiary countries.
In addition to financing projects, the Fund adopts the principle of partnerships with countries and international and local organizations, in order to ensure the effective and sustainable implementation of projects.
The Fund has succeeded in building strong cooperative relationships with many international organizations, such as the World Bank and the International Monetary Fund, which has helped enhance the effectiveness of development efforts and increase their impact.
The Saudi Fund for Development’s celebration of its fiftieth anniversary comes in light of its growing role at the international level. The Fund’s activities have expanded significantly in recent decades, with a focus on supporting the least developed countries, as the Fund aims to achieve balance in sustainable development globally by providing development assistance that contributes to achieving economic and social stability for the beneficiary countries.
The Fund’s role is not limited to providing loans and grants, but also includes providing technical and advisory assistance to developing countries. This is done by sending experts and specialists to assist in planning and implementing projects, and providing technical support to ensure their success and sustainability.
This advisory role enhances the effectiveness of the assistance provided and ensures that the desired results are achieved.
This occasion comes to celebrate the great achievements made by the Saudi Fund for Development, which have had a positive impact on many countries and societies around the world.
It is also an opportunity to emphasize Saudi Arabia’s continued commitment to supporting sustainable development and enhancing international cooperation.
It is expected that the Fund will continue to play a leading role in achieving development goals at the global level, and contribute to building a bright future for developing countries and less developed communities.
One can feel the role of the Saudi Fund for Development and feel its great impact in improving the lives of millions around the world, and appreciate the efforts made by the Kingdom of Saudi Arabia in supporting sustainable development.
