SFD finances electricity project in Suriname with $20 million

Today, the Saudi Fund for Development signed the first soft development loan agreement worth $20 million with Suriname, to contribute to financing the project to expand the electricity transmission and distribution systems.

The agreement was signed by the CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Marshad, and His Excellency the Minister of Finance and Planning in the Republic of Suriname, Mr. Kermishend Rajoiprasing.

The agreement aims to expand the electricity transmission and distribution network in the capital, Paramaribo, and the city of Nickerie, to enhance the provision of electricity to beneficiaries and raise the efficiency of the electricity network in Suriname, in addition to supplying and delivering electricity to a number of farms and factories in different areas, where the transmission lines reach about 50 kilometers.

This development agreement is the first step in development cooperation between the Saudi Fund for Development and the Republic of Suriname. This development cooperation also embodies the Fund’s keenness to support various developing countries around the world for 50 years to overcome economic, social and development challenges. The agreement also emphasizes the importance of solidarity to contribute to enhancing the growth of vital opportunities and supporting them.

It is worth noting that this agreement comes within the framework of the Fund’s efforts to support sustainable development in developing countries around the world. The agreement is also closely aligned with the Fund’s goal of supporting infrastructure in countries benefiting from the Fund’s activities.