Saudi Fund for Development finances 240 projects in 42 countries

Updated 01 December 2019

Saudi Fund for Development finances 240 projects in 42 countries

  • SFD increased its contribution to the Kingdom’s Vision 2030 by supporting local content

RIYADH: The Saudi Fund for Development (SFD) became a major pillar of the national economy during the past five years by supporting Saudi exports and financing the private sector with SR29.7 billion ($7.92 billion) in funding, says a report issued by the SFD.

In accordance with its strategy, SFD increased its contribution to the Kingdom’s Vision 2030 by supporting local content when implementing its projects, and hiring Saudi consultants and contractors at a total cost of SR5.12 billion.

In light of the Kingdom’s contribution to the achievement of economic and financial objectives in developing countries, SFD provided grants and loans amounting to more than SR44 billion to finance 240 projects in 42 countries, the report said

The SFD’s main objectives are to participate in financing uplift projects in developing countries by granting them necessary loans, technical aids required for financing studies and institutional support.

Since the launch of the fund in the 1970s, it has financed programs in different economic sectors including transportation, agriculture and energy.


Pakistani doctor mourned as first Saudi medic dying of COVID-19

Updated 41 min 2 sec ago

Pakistani doctor mourned as first Saudi medic dying of COVID-19

  • Pakistani surgeon Naeem Chaudhry died in Makkah, where he worked at Hira General Hospital
  • He contracted the virus in the course of his work helping patients, not from anyone outside the hospital

MAKKAH: A Pakistani surgeon is the first doctor to lose his life in Saudi Arabia as a result of the coronavirus disease, COVID-19. Naeem Chaudhry died two days ago in Makkah, where he worked in the General Surgery Department at Hira General Hospital

Dr. Wael Hamzah Mutair, director-general of Makkah Health Affairs, said the healthcare family is saddened by the death, and the city has lost one of its most skilled and prominent general surgeons.

He paid tribute to Chaudhry as one of the front-line workers who have played such an important role in the fight against COVID-19 in the Kingdom, and confirmed he contracted the virus during the course of his work, not from anyone outside the hospital. His only existing health problem was high blood pressure, Mutair added.

Makkah Health Affairs has seen many examples of dedication, perseverance and sacrifice among health workers, he said, and that even when family members have tested positive for the virus they have remained steadfast in their duty and continued to do their utmost to protect the country and its people.

Chaudhry is survived by his wife and three daughters, who live in Makkah.