The Saudi Fund for Development (SFD) announced its financing in Africa has surpassed $11 billion, according to a statement reported by local newspaper Al-Eqtisadia.

The funds support 433 development projects and programmes across the continent, the report said, adding that African projects represent 55.3 percent of SFD’s total development project financing worldwide.

Since its establishment, the SFD has provided cumulative financing for more than 800 projects and programmes in over 100 developing countries, with a total value exceeding $20 billion.

(Writing by Majda Muhsen; Editing by Anoop Menon)


Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.