Saudi Fund pledges continued support for Pakistan’s development goals

WEB DESK: A delegation from the Saudi Fund for Development (SFD), headed by Sultan Bin Abdul Rehman Al Marshad, the Chief Executive Officer (CEO) of SFD, met with Prime Minister (PM) Muhammad Shehbaz Sharif to discuss the progress of ongoing projects in Pakistan.

PM Shehbaz warmly welcomed the delegation and expressed his gratitude for the enduring friendship between the Kingdom of Saudi Arabia and Pakistan.

He also commended the SFD’s efforts in providing financial support to Pakistan across various sectors such as health, energy, infrastructure, education, and disaster relief, notably in response to recent floods.

During the meeting, Prime Minister Shehbaz Sharif praised the recent signing of financial agreements totaling US$ 107 million between SFD and the Government of Pakistan.

These agreements are aimed at constructing hydropower stations in Azad Jammu and Kashmir (AJK), which will not only contribute to the production of clean energy but also aid in combating deforestation while generating employment opportunities for the local populace.

The CEO of SFD provided updates to PM Shehbaz on several ongoing projects, including the Mohmand Multi-purpose Hydropower Project, Golan Gol Hydropower Project, Malakand Regional Development Project, and other initiatives supported by Saudi grants.

PM Shehbaz underscored the importance of expediting the approval process for new projects in the areas of green energy and infrastructure, underscoring their significant role in the economic rejuvenation of the country and in addressing the needs of local communities.

In response, the CEO of SFD assured PM Shehbaz of the prompt processing of proposed projects. Furthermore, he reiterated the Kingdom of Saudi Arabia’s commitment, under the leadership of the Royal Family, to extending comprehensive assistance and ongoing support to Pakistan.

Prime Minister Shehbaz expressed his gratitude to the CEO and the delegation, extending his best wishes to all members of the Royal Family, particularly the Khadim-e-Harmain Sharifain.

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