SFD to finance Djibouti infrastructure projects

Vice Chairman of the Saudi Fund for Development Dr. Khalid Bin Sulaiman Al Khudairy (left) and the Djibouti Minister of Economy and Finance Elias Moussa Doula sign a new grant agreement in the presence of Prime Minister of Djibouti Mr. Abdoulkader Kamil Mohamed (center back row). — Courtesy photo

Saudi Gazette report

The Saudi Fund for Development (SFD) recently signed an agreement for a grant package worth over $9 million to fund the design and construction of a water distribution network, a judicial courthouse and infrastructure projects in Dijbouti, marking the latest in a series of the SFD’s development projects in the country.

Vice Chairman of the SFD Dr. Khaled Bin Sulaiman Al Khudairy signed the agreement with Elias Moussa Douala, minister of economy and finance, in the presence of Djibouti’s Prime Minister Abdoulkader Kamil Mohamed and other government officials. Al Khudairy is leading a delegation from the fund on a visit to Djibouti.

Al Khudairy said: “The SFD and government of Djibouti have a long history of working together to positively alter the social and economic landscape of this country. Over the decades, the SFD’s funding has supported numerous infrastructure projects throughout the country, from developing the education sector to expanding transportation and communication capabilities. We hope the new projects will ensure that the people of Djibouti are given the opportunities to not only better their futures, but their communities’ futures too.”

In addition to helping developing the country’s infrastructure, many of the SFDs projects in Djibouti support social development programs that provide direct benefits to citizens. This includes contributing to the Djibouti Social Fund in support of Small to Medium Enterprise (SME) incubation, as well as building of a number of multi- use sports fields throughout the country.

To date, the SFD have contributed to a total of 17 development projects in Djibouti, which include the rehabilitation of major roads, the airport, and the partial financing of the soon to be completed Tajura Port, which will provide an important gateway into the Horn of Africa.