Senegal August 23, 2022:  His Excellency, the Chairman and CEO of the Saudi Fund for Development, Mr. Sultan Abdulrahman Al-Marshad, signed today in Dakar, together with His Excellency, the Senegalese Minister of Economy, Planning and Cooperation, Mr. Amadou Hott, an agreement to finance the rehabilitation and asphalting project of the Oréfondé-Nguidjilone road, 62 km long, which is part of the Oréfondé-Matam road. This development loan dedicated to the project is worth a total of 47 million dollars, and is granted by the Saudi Fund for Development. 

This project aims to establish and expand the road, as well as to improve the level of road safety, in accordance with the standards approved by the West African Economic and Monetary Union (UEMOA). It will also contribute to meeting the needs of the inhabitants of towns and villages, reducing the difficulty of transport services, reducing the rate of injuries and deaths resulting from traffic accidents, while facilitating the process of trade and economic. 

The signing ceremony of the agreement took place in the presence of His Excellency the Ambassador of the Custodian of the Two Holy Mosques in the Republic of Senegal, Mr. Saad bin Abdullah Al-Nafi'i, and a number of officials representing the two parts. 

During the signing ceremony of the agreement, His Excellency Abdulrahman Al-Marshad, CEO of the Fund, gave a speech in which he explained that this project will have a positive impact on the social and economic development of the Republic of Senegal, as it will help provide the necessary support for basic infrastructure services. These will allow the Senegalese people to meet their daily needs to improve the socio-economic level. His Excellency appreciated the efforts of both parties to contribute to the achievement of the Sustainable Development Goals, wishing that this project contribute to achieving growth and prosperity in Senegal. 

For his part, His Excellency Mr. Amadou Hott praised the role played by the Government of the Kingdom of Saudi Arabia through the Saudi Development Fund in supporting development projects and programs, and the evolution of the transport sector and communications in Senegal. His Excellency also noted that this project connects towns and villages, and that it will contribute to improving the socio-economic conditions of the Senegalese people.  

The government of the Kingdom of Saudi Arabia attaches great importance to supporting development sectors in the Republic of Senegal through development projects and programs financed by the Saudi Fund for Development.  

Since 1977, in addition to this agreement, the Fund has provided 26 development loans to help finance 25 development projects and programs worth approximately $384 million, and manage four grants awarded by the Government of the Kingdom worth more than $19 million. These projects aim to support the sectors of transport and infrastructure, health, housing, urban development, energy, education, water and sanitation, in order to contribute to growth to the prosperity of Senegal and to the achievement of the Sustainable Development Goals.