Pakistan – 15 August 2025

The Saudi Fund for Development (SFD), represented by the Director General of Asia Operations, Dr. Saud Ayid Alshammari, participated in the signing ceremony of consulting services contracts to support development projects financed by the Fund in the Islamic Republic of Pakistan. The ceremony was attended by the Secretary of the Ministry of Economic Affairs, H.E. Dr. Kazim Niaz, and the Ambassador of the Custodian of the Two Holy Mosques to Pakistan, H.E. Mr. Nawaf bin Saeed Al-Malki.

The contracts were signed by specialized consulting firms from the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan. The agreements aim to strengthen cooperation, promote the exchange of expertise, and foster joint efforts.

They mark the start of consulting services for three major development initiatives. The first is the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud Hospital Project in Islamabad, funded by SFD through a grant from the Kingdom valued at USD 20 million. The second is the Shauntar Hydropower Project, financed by SFD through a development loan of USD 66 million. The third is the Jagran-IV Hydropower Project, also financed by SFD through a development loan of USD 35 million.

Since 1976, SFD has provided the Islamic Republic of Pakistan with financing for more than 18 development projects and programmes, with a total value of approximately USD 1.2 billion, in addition to grants provided by the Kingdom of Saudi Arabia through the Fund amounting to over USD 533 million. These contributions have supported social development and stimulated economic activity across sectors such as social infrastructure, transportation, energy, water and sanitation, housing and urban development, and food security.