Saudi Fund for Development (SFD) was established on 1st September 1974 and commenced work on 1st March 1975. The main objective of the Fund is to contribute to the financing of development projects in developing countries by granting loans, providing technical assistance grants for funding studies and institutional support, and providing financing and guaranteeing national non-oil exports. The Fund is a public institution with a legal personality and independent financial authority.
The first loan by SFD to the Maldives was provided in 1978 for the development of Male’ International Airport. SFD has provided assistance towards development of different sectors such as transport, health, harbors, water supply and sanitation, housing and infrastructure, and budget support. Currently SFD is implementing Hulhumale Phase 2 Development Project, S. Hithadhoo Regional Hospital project, and co-financing one of the mega projects of the country - development of the Velana International Airport.
SFD in the Maldives
|2016||Ibrahim Nasir Airport Upgrade Project||SAR||375,000,000|
|2015||Development of Hulhumale Island
|2011||S. Hithadhoo Regional Hospital Project||SAR||47,000,000|
|2010||Reconstruction and Development of GA. Project||SAR||30,000,000|
|2009||Reconstruction of Fishing Harbors in Maldives
|2008||Program of Repairs of Damages Resulted from Tsunami||SAR||56,250,000|
|2006||Reconstruction and Development of GA.||SAR||45,000,000|
|1999||Airport Upgrading Project Phase IV||SAR||16.654,164|
|1984||Water Supply and Sewerage Project||SAR||14,252,835|
Website link: www.sfd.gov.sa