Saudi Arabia gives first multi-million dollar loan to Serbia
SFD signs three development loan agreements with Serbia
Dubai: The Saudi Fund for Development (SFD) signs three development loan agreements with Serbia, totalling $205 million (Dh752 million), aimed at enhancing agriculture, education, and energy sectors.
The SFD, which is Saudi Arabia’s official overseas development fund, will allocate $75 million (Dh275 million) for an irrigation project, $65 million (Dh238 million) for the Bio4 Campus research institute in Belgrade, and another $65 million (Dh238 million) for a transmission system operator to improve the electricity grid, as reported by the Saudi Press Agency.
The SFD has financed over 800 projects across more than 100 countries, with total investments reaching $20 billion (Dh73 billion).
Serbia is among 11 new countries to receive funding from the SFD in 2024.