Saudi Fund for Development and the UK’s Foreign, Commonwealth, and Development Office Sign Joint Cooperation Arrangement to Advance Global Development
Riyadh, Saudi Arabia – May 6, 2024
The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed today a Joint Cooperation Arrangement (JCA) in Riyadh, in the presence of the Supervisor General of King Salman Humanitarian Aid and Relief Centre (KSrelief), H.E. Dr. Abdullah Al Rabeeah, the UK’s Deputy Foreign Secretary and Minister of State, Rt Hon. Andrew Mitchell MP, and H.E. the CEO of the Saudi Fund for Development, Mr. Sultan bin Abdulrahman Al-Marshad. The signing ceremony took place on the sidelines of the second strategic dialogue on humanitarian assistance and international development at KSRelief HQ.
As part of the JCA, SFD and FCDO will collaborate to enhance development effectiveness and policy issues of mutual interest. Additionally, both parties will focus on effectively delivering the international development agenda for their respective organizations, while strengthening their capacities to better respond to overseas development needs. The goals and objectives outlined as part of the JCA will provide support for the world’s poorest and most vulnerable people through improved donor coordination, enhanced transparency and accountability of aid, and effective monitoring and evaluation.
On this occasion, the Deputy Foreign Secretary and Minister of State (Development and Africa), Rt Hon. Andrew Mitchell MP, said: It’s vitally important that we get the Sustainable Development Goals back on track by 2030 – our collective commitment has waned in recent years, the time is now to turn the tide on this. Our partnership and shared resolve with our friends in Saudi Arabia is a welcome step that we must keep momentum on
On his part, the Chief Executive Officer of the Saudi Fund for Development, H.E. Sultan Al-Marshad, said: “We are pleased to embark on this JCA with the UK’s Foreign, Commonwealth and Development Office. This partnership is a strong reflection of our mutual dedication towards strengthening the global development system. We are hopeful that this partnership will help improve the lives of millions of people around the world and enhance the quality of life for those who most need it.”
Since 1975, SFD has financed over 800 development projects and programs, valued at over $20 billion, in over 100 developing countries. These have covered various sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining, and others. The Fund has played a key role in helping to improve living standards, advance socio-economic development, and provide employment opportunities for millions of beneficiaries around the world.
