Washington, — October 15, 2025

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Abdulrahman Al-Marshad, signed a Memorandum of Understanding (MoU) with the President of the Inter-American Development Bank (IDB), Mr. Ilan Goldfajn, on the sidelines of the 2025 Annual Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C.

The MoU aims to promote knowledge exchange in development activities and strengthen partnership based on best practices by adopting innovative financing mechanisms in sustainable infrastructure and key development sectors. It also seeks to explore potential opportunities for effective cooperation in Latin American and Caribbean countries.

This MoU embodies the spirit of collaboration with international and development institutions to support the financing of development projects and programs in least developed countries, fostering economic prosperity and social growth. It marks an important step toward advancing international cooperation and contributing to inclusive and sustainable global development, as the Saudi Fund for Development continues to play a pivotal role as a key partner in global development.

It is worth noting that since its establishment in 1974, the SFD has contributed to strengthening the foundations of sustainable development across diverse sectors in developing countries worldwide. Over the past five decades, the Fund has financed and supported more than 800 development projects and programs in over 100 countries, with a total value exceeding USD 21.7 billion, spanning various vital sectors aimed at driving social and economic growth.