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SFD to provide US$20m loan to Central African Republic for development projects

Since 1975, SFD has funded more than 750 development projects worth US$20 billion in over 90 countries.
By TRENDS Desk
October 14, 2023 5:11 pm
  • The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund Annual Meetings in Morocco.
  • The US$20 million loan agreement aims to finance development projects in CAR, including the establishment of a 250-bed hospital.

MARRAKESH, MOROCCO – The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20 million loan agreement with Central African Republic (CAR) Prime Minister Félix Moloua.

The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund (IMF) Annual Meetings in Morocco.

The $20 million loan agreement aims to finance development projects in CAR, including the establishment of a 250-bed hospital

The agreement came in continuation of the existing cooperation between the two sides.

The SFD extended a $77 million loan to CAR in 2015 to support developmental projects.

Since 1985, the SDF has provided US$109 million in support to finance four development projects and programs in CAR in various sectors including infrastructure, transportation and telecommunication.

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