President of the Republic of Guinea meets with Saudi Fund for Development Chief Executive Officer (CEO) to discuss development projects in Guinea
His Excellency the President of the Republic of Guinea, Colonel Mamady Doumbouya, today received the CEO of the Saudi Fund for Development (https://SFD.gov.sa), His Excellency Mr. Sultan Abdulrahman Al-Marshad, and his accompanying delegation in Conakry. The meeting was attended by His Excellency the Ambassador of the Kingdom of Saudi Arabia to Guinea, Dr. Hussein bin Nasser Al-Dakhil Allah, and several officials. The purpose of the meeting was to discuss development projects financed by the Fund in Guinea and the progress of their implementation.
President Mamady Doumbouya praised the efforts made by the government of the Kingdom of Saudi Arabia through the Saudi Fund for Development in supporting projects and programs aimed at developing the Republic of Guinea, helping improve the country’s social and economic situation in addition to achieving sustainable development goals.
During the visit, the CEO of the Saudi Fund for Development, signed a Memorandum of Understanding in Guinea Conakry with His Excellency Moussa Cissé, the Guinea Minister of Economy, Finance and Planning for a USD 8 million Water project grant. The grant, provided by the Kingdom of Saudi Arabia through the Saudi Fund for Development, will be allocated for the fifth phase of the Saudi Program for Well Drilling and Rural Development in Africa. The signing ceremony was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Guinea, Dr. Hussein bin Nasser Al-Dakhil Allah, and officials from both sides.
The MoU aims to help the Republic of Guinea, among other African countries, overcome the effects of drought by providing villages and rural areas with potable water by drilling approximately 140 wells equipped, including wells equipped with solar-powered pumps. In addition, the grant will support the supply of tanks and a network of extensions to distribute water and deliver it to beneficiaries across the villages and rural areas. The project will contribute to the growth and prosperity of the infrastructure sector, provide access to water and food security, maintain public health, and reduce environmental pollution, to achieve the Sustainable Development Goals.
In 1981, during the Islamic Summit Conference in Makkah, the Kingdom of Saudi Arabia launched the Saudi Program for Drilling Wells and Rural Development in Africa in response to the needs of African countries to alleviate the effects of drought on the continent, especially in rural areas. The implementation of the program through SFD began in 1982 and continues to provide the needed support in the African continent. To date, the project has implemented and supported more than 6300 wells and water facilities across various countries, with a total value exceeding USD 330 million, benefiting more than 4.5 million people.
The Saudi Fund for Development has been supporting the brotherly country Republic of Guinea since 1977 and has provided 16 soft development loans to finance 15 development projects and programs in the health, education, energy and transportation sectors, totaling USD 227 million. The government of the Kingdom of Saudi Arabia has also allocated three generous grants to the Republic of Guinea for a total amount of USD 18 million.
Distributed by APO Group on behalf of Saudi Fund for Development.