Saudi Fund for Development Signs Agreement with El Salvador for Developmental Cooperation
In a landmark agreement signed in Riyadh, the CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Marshad, joined forces with El Salvador’s Minister of Foreign Affairs, Alexandra Hill Tinoco, to pave the way for a new era of developmental cooperation, projects, and programs.
The signing ceremony was a star-studded affair, with the presence of Haytham bin Hassan Al-Malki, the Kingdom’s ambassador to Mexico and non-resident ambassador to El Salvador, as well as El Salvador’s Ambassador to Saudi Arabia, Ricardo Ernesto Cucalon Levy.
The agreement marks a significant milestone in the financing realm, as it sets the stage for a groundbreaking water treatment and energy generation project using biogas in the Acelhuate River area. This project will be made possible through a development loan from the Saudi fund, showcasing their commitment to supporting sustainable initiatives.
This strategic partnership falls in line with the fund’s overarching mission to bolster the growth of essential infrastructure in various countries, ultimately fostering prosperity and sustainable development on a global scale.