August 2, 2023 – The Saudi Fund for Development (SFD) Chief Executive Officer, H.E.
Sultan Al-Marshad, and his accompanying delegation, held a courtesy visit to the
Caribbean nation of Grenada on August 1, 2023, and met with the Prime Minister of
Grenada, Hon. Dickon Mitchell.
During the meeting, avenues of collaboration and potential development projects were
discussed, and the importance of international cooperation and solidarity was underlined,
in terms of how it can help to realize sustainable development, and foster economic and
social growth, particularly in Small Island Developing States (SIDS). Moreover, both
parties explored key developmental sectors, including areas such as social infrastructure,
energy and economic development, where SFD could potentially provide its support.
On this occasion, the Prime Minister of Grenada, Hon. Dickon Mitchell, said: “I am
immensely happy to welcome to Grenada the delegation of the SFD, led by H.E. Sultan
Al-Marshad. This visit is a testimony to the commitment of the SFD, and the Government
and people of Kingdom of Saudi Arabia, to forge a close partnership with Grenada,
focused on socio-economic development and mindful of the inherent vulnerabilities of
SIDS. Grenada and the SFD are working towards concluding an agreement that will allow
the Fund to support major infrastructural projects that address Grenada’s resilience,
mitigation and adaptation to the harmful effects of climate change on some of our
country’s significant urban, rural and major tourist sites, including the seacoast and
beaches.”
On his part, the Chief Executive Officer of SFD, H.E. Sultan Al-Marshad, said: “I am
delighted to be here today in Grenada, to explore potential development cooperation with
the government, and projects that can help generate socio-economic development and
benefit the local population. SFD has recently been active in providing its support
throughout the SIDS, and we look forward to contributing towards Grenada’s
development journey, and helping the nation achieve its sustainable development goals.”
The visit aligns with SFD’s efforts to contribute towards environmental sustainability and
development across developing countries, including the SIDS and Caribbean nations.
Since operations began in 1975, SFD has implemented more than 700 development
projects and programs in 89 countries around the world.
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About the Saudi Fund for Development
The Saudi Fund for Development (SFD) is a government entity that provides soft
development loans and grants to finance development projects and programs in
developing countries.
Since 1975, SFD has financed over 700 infrastructure projects in 89 countries across
various sectors such as transportation and communications, social infrastructure,
agriculture, energy, industry and mining, and others. The projects support generating socio-economic development and help to improve the living standards of disadvantaged
communities in countries most in need. SFD’s activities are aligned with the international
development principles and contribute towards realizing the UN’s Sustainable
Development Goals. Moreover, it unifies its efforts in development support through
partnerships and cooperation with regional and international organizations.