The Saudi Fund for Development (SFD) has inaugurated infrastructure projects that are being set up at a total investment of $137 million, local reports have said.
These includes two new development projects in the water and housing sector, said the reports.
The fund has also laid the foundation stone for a project in the transportation sector.
The projects were launched by SFD CEO Sultan bin Abdulrahman Al Marshad along with the President of Djibouti Ismail Omar Guelleh in the presence of other senior officials, said the local reports.
Al Marshad also inaugurated the construction of the 120-unit residential project in the presence of Amina Abdi Aden, Minister of Cities, Urban Planning and Housing.
The project is being funded with a grant of $7 million from the Saudi government, provided through the SFD.
Funded with a grant of $10 million provided by Saudi Arabia through the SFD, it will involve the construction of 105 km of water pipes and eight water tanks to pump clean water from the Bissidiro region.
Al Marshad and Guelleh also laid a foundation stone to upgrade 60km of the Djibouti-Galafi arterial road, which was originally funded by Saudi Arabia through the SFD, with $120 million grant.
The road will provide a vital economic and trading link with its neighboring countries.
