BELGRADE: The Saudi Fund for Development (SFD) has signed three development loan agreements with Serbia amounting $205 million to finance key projects supporting the agriculture, education, and energy sectors, the Saudi Press Agency (SPA) reported on Wednesday.
This partnership is aimed at enhancing the country’s long-term socioeconomic growth. The agreements cover three projects: $75 million for the Strengthen Irrigation Infrastructure in Different Areas Project, $65 million for the Construction of the Bio4 Campus in Belgrade Project, and $65 million for the Development of Transmission System Operator (Phase 1) Project.
Deputy Prime Minister and Minister of Finance of Serbia Siniša Mali stated: “We are grateful for the support. The projects for which this money is intended will contribute to the creation of new jobs, strengthening of our economy, and better positioning of the Republic of Serbia in the world scientific community.”
He added: “The agreements will also reinforce the long-term partnership between the Republic of Serbia and the Kingdom of Saudi Arabia and contribute to the implementation and development of important projects in our country.”
CEO of the SFD Sultan Al-Marshad said: “Supporting sustainable development through strategic funding in infrastructure and education is central to our mission.”
As the official development arm of the Kingdom of Saudi Arabia, the SFD has funded more than 800 projects in over 100 countries, with total funding of $20 billion.
