RIYADH —The Saudi Fund for Development (SFD) CEO Sultan Bin Abdulrahman Al-Marshad signed here Sunday a bilateral agreement to postpone the debts due for development projects financed by the SFD in the Republic of Burkina Faso with the Burkina Faso Minister of Economy and Finance Dr. Seglaro Abel SOME, in the presence of a number of officials from both sides.

This comes as a continuation and implementation of the initiative of the G20, headed by Saudi Arabia, for the year 2020, regarding the postponement of debts owed by the least developed and poorest countries, and based on motivating countries to take advantage of the created financial space to increase social, health and economic spending to face the repercussions of the coronavirus pandemic.

Meanwhile, the two sides discussed the progress of the development projects that are being financed by SFD in the roads and agriculture sectors.

The total value of the projects that were financed by the SFD in the Republic of Burkina Faso, over 40 years, is $240 million, consisting of 15 loans and 3 grants for promoting sustainable growth and achieving development goals. — SPA