Saudi Development Fund: Five-Decade History of Development Contributions in African States

The Kingdom of Saudi Arabia has extended assistance to developing countries worldwide to mitigate the impact of natural and climate-related disasters, as well as other challenges that impede the states’ development trajectory. The Kingdom has provided developmental aid to address pressing concerns like water and food security, gaining global recognition for its ongoing initiatives in aid provision, development projects, and humanitarian efforts, which have become an international priority.

For nearly 49 years, the Saudi Fund for Development (SFD) has established a robust track record of delivering developmental assistance to African countries and fostering partnerships with international organizations, serving as the international development arm of Saudi Arabia. The fund’s objectives are grounded in the Kingdom’s core values, aiming to provide further assistance and enable people around the world to lead a dignified life.

These objectives are realized through the support of developmental projects and programs in critical sectors such as social infrastructure, contributing to social progress and economic prosperity in developing countries, particularly across the African continent. The SFD has sponsored and financed over 413 developmental projects and programs in 46 African countries, amounting to a total value exceeding $10.7 billion, with the primary goal of fortifying the pillars of sustainable development across various forms and sectors throughout Africa.

The projects supported by the SFD span diverse developmental sectors, including health, education, transportation, agriculture, infrastructure, ports, and energy. The fund has diligently worked to bolster African countries by creating diverse opportunities that foster economic and social growth and improve living standards. These opportunities have facilitated job creation for millions of individuals and enabled communities to keep pace with advancements in knowledge and capacity building.

The fund also contributed to the Saudi Program for Drilling Wells and Rural Development, launched by the Kingdom in 1982, which has reached five phases in 19 African countries. This program aims to mitigate the effects of water and food scarcity, enhance agricultural crop growth, and provide clean drinking water by equipping 8,800 water facilities benefiting over 4.5 million people, with a total value of $330 million.

Regarding the fund’s efforts in providing support to African countries, the CEO of the Saudi Fund for Development, Sultan Abdulrahman Al-Marshad, said, “The Saudi Development Fund, by financing projects and development programs in various African developing countries, aims to contribute to overcoming economic, social, and environmental obstacles and challenges faced by development plans in those countries.”

“As a result, the fund’s activities in the African continent have reached approximately 57.06% of its total developmental support to countries worldwide. This is due to the economic and developmental challenges, alongside high population growth rates, unemployment, and declining income levels,” the CEO of the fund said.

Since its inception in 1975, the Saudi Fund for Development has cumulatively extended its developmental lending activities to around $20 billion distributed among over 800 developmental projects and programs in more than 100 developing countries worldwide.

The fund’s objective is to finance developmental projects in these nations by providing favorable developmental loans.

This aligns with the Kingdom’s commitment, through the fund, to contribute to achieving comprehensive and sustainable growth and prosperity.