Riyadh, 14 December 2023

In the presence of the Crown Prince and Prime Minister of the Kingdom of Bahrain, HRH Prince Salman bin Hamad Al Khalifa, and the Deputy Prime Minister of the Kingdom of Bahrain, H.E. Sheikh Khalid bin Abdullah Al Khalifa; the Chief Executive Officer of the Saudi Fund for Development (SFD), H.E. Sultan Al-Marshad, participated today in the inauguration of the “Al-Fateh Street” development project, which the Fund contributed in financing through a grant provided by the Kingdom of Saudi Arabia to the brotherly and neighboring Kingdom of Bahrain.

The inauguration was attended by several Bahraini Ministers, alongside top officials from both sides. The project will play a key role in reducing traffic congestion, and alleviating the flow of traffic, along the Al-Fateh Street network. Additionally, it will contribute towards promoting greater investment opportunities in Bahrain, while stimulating the economy.

Throughout this major initiative, which will accommodate approximately 140,000 vehicles per day, SFD has collaborated closely and effectively with the Bahraini Ministry of Works (MOW). Al-Fateh Street is as an essential component of Bahrain’s transportation network.

The “Al-Fateh Street” development project was inaugurated as part of the ongoing development cooperation between the Kingdom of Saudi Arabia, through SFD, and the brotherly Kingdom of Bahrain, which spans since 1976. Over the years, SFD has contributed towards 30 major development projects in Bahrain, across diverse sectors including energy, transportation, communications and social infrastructure.