Riyadh, Tuesday, 25 February 2025

H.E. Mr. Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), today signed a Memorandum of Understanding (MoU) with Mr. Haoliang Xu, UN Assistant Secretary-General, UNDP Assistant Administrator, on the sidelines of the 4th Riyadh International Humanitarian Forum.

The MoU addresses the implementation of the grant provided to the Federal Republic of Somalia under the fifth phase of the Saudi Program for Drilling Wells and Rural Development in Africa. The signing ceremony was attended by H.E. Mr. Owais Haji Yusuf Ahmed, Ambassador of Somalia to the Kingdom of Saudi Arabia.

The program aims to support access to clean water in rural areas of Somalia by drilling wells and establishing water supply networks powered by solar energy. This program will contribute to providing safe drinking water, combating desertification, enhancing water and food security, and supporting the agricultural sector, while also reducing diseases and epidemics caused by contaminated water.

As part of the program, the Saudi Fund for Development has supported the drilling and equipping of more than 10,000 wells across 21 African countries, benefiting over 5 million people, with a total value of $330 million. The program aims to mitigate the impact of drought in various rural regions of the African continent.

It is noteworthy that since 1977, the Saudi Fund for Development has provided the Federal Republic of Somalia with financing for seven development projects and programs through concessional development loans and grants offered by the Government of the Kingdom of Saudi Arabia through the Fund, with a total value exceeding $100 million. These projects have supported key sectors, including water, education, agriculture, industry, and mining, with the aim of enhancing social infrastructure, water resources, and rural development in Somalia