Riyadh - Mubasher: The Saudi Fund for Development (SFD) inked 17 loan agreements at an aggregated value of SAR 3.70 billion with 13 countries worldwide in 2024, according to the SFD’s annual report.

The financing aimed to support priority projects that promote sustainable development, fostering Saudi Arabia’s role in providing global development assistance.

The deals included two loans in Africa valued at SAR 337.50 million, five in Asia and the Pacific totaling SAR 1.15 billion, four in Europe amounting to SAR 821.75 million, and six in Latin America and the Caribbean worth SAR 1.40 billion.

During the 12-month period that ended on 31 December 2024, the SFD expanded to five new countries, including Saint Kitts and Nevis, El Salvador, Nicaragua, Dominica, and Serbia.

Over the past five decades, the Saudi fund has financed nearly 800 development projects and programs in 100 countries, with a total value exceeding SAR 81 billion.

In October 2024, SFD finalized three development loan agreements with Serbia totaling $205 million.