Saudi Fund for Development
07 August 2020 Share Tweet

Saudi Fund for Development (SFD) was established on 1st September 1974 and commenced work on 1st March 1975. The main objective of SFD is to contribute to 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. SFD 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 – the development of the Velana International Airport

SFD in the Maldives

2020Affordable Housing Scheme ProjectSAR93,750,000
2020Fisheries Sector Development ProjectSAR93,750,000
2016 Ibrahim Nasir Airport Upgrade Project SAR 375,000,000
2015Development of Hulhumale Island
SAR 300,000,000
2011S. Hithadhoo Regional Hospital ProjectSAR 47,000,000
2010Reconstruction and Development of GA. Project SAR 30,000,000
2009Reconstruction of Fishing Harbors in Maldives
SAR 56,250,000
2008Program of Repairs of Damages Resulted from Tsunami                                                 SAR 56,250,000
2006Reconstruction and Development of GA. SAR 45,000,000
1999Airport Upgrading Project Phase IVSAR 16.654,164
1992Airport ExpansionSAR 34,144,150
1984Water Supply and Sewerage Project SAR 14,252,835
1981Airport Project SAR 9,265,053
1978Airport Project
SAR 31,150,000

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