El Salvador, June 6, 2024

The CEO of the Saudi Fund for Development, Mr. Sultan bin Abdulrahman Al-Marshad, signed the first development loan agreement with El Salvador’s Minister of Finance, Mr. Jerson Posada. The agreement, amounting to $83 million, will fund a water treatment and biogas power generation project using water from the Acelhuate River in El Salvador. The signing ceremony was attended by El Salvador’s Minister of Foreign Affairs, Ms. Alexandra Hill Tinoco, along with other officials.

The project will treat wastewater that currently flows into the Acelhuate River, while also producing biogas for renewable electricity generation.  Expected to benefit over 1.2 million people, it will significantly increase El Salvador’s renewable energy capacity, contribute to environmental sustainability, and advance progress towards several Sustainable Development Goals (SDGs), including clean water and sanitation, and affordable and clean energy.

This agreement underscores the Saudi Fund for Development’s commitment to supporting developing countries in overcoming challenges to their development plans. It highlights the importance of international cooperation and solidarity in achieving sustainable development, contributing to social and economic prosperity, and fostering inclusive and sustainable growth in beneficiary countries.

Since its inception in 1975, the Saudi Fund for Development has been dedicated to creating diverse development opportunities. The SFD contributes to enhancing social and economic growth in developing countries, improving living conditions, enabling advancements in knowledge and capacity building, and providing job opportunities for millions of beneficiaries.