Conakry - November 13, 2022:

His Excellency Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, today signed a Memorandum of Understanding in Guinea Conakry with His Excellency Moussa Cissé, the Guinea Minister of Economy, Finance and Planning for a USD 8 million Water project grant. The grant, provided by the Kingdom of Saudi Arabia through the Saudi Fund for Development, will be allocated for the fifth phase of the Saudi Program for Well Drilling and Rural Development in Africa. The signing ceremony was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Guinea, Dr. Hussein bin Nasser Al-Dakhil Allah, and officials from both sides.

The MoU aims to help the Republic of Guinea, among other African countries, overcome the effects of drought by providing villages and rural areas with potable water by drilling approximately 140 wells equipped, including wells equipped with solar-powered pumps. In addition, the grant will support the supply of tanks and a network of extensions to distribute water and deliver it to beneficiaries across the villages and rural areas. The project will contribute to the growth and prosperity of the infrastructure sector, provide access to water and food security, maintain public health, and reduce environmental pollution, to achieve the Sustainable Development Goals.

The Saudi Fund for Development has been supporting the brotherly country Republic of Guinea since 1977 and has provided 16 soft development loans to finance 15 development projects and programs in the health, education, energy and transportation sectors, totaling USD 227 million. The government of the Kingdom of Saudi Arabia has also allocated three generous grants to the Republic of Guinea for a total amount of  USD 18 million.