Photo source: © Solomon Islands Broadcasting Corporation (sibconline.com.sb)
Excerpt from sibconline.com.sb
The Saudi Fund for Development (SFD) has entered into its first development cooperation agreement in the Pacific region with the Solomon Islands Government, marking a historic milestone in bilateral relations.
In a significant signing ceremony held today at the Office of the Prime Minister and Cabinet, SFD Chief Executive Officer, Mr. Sultan Abdulrahman Al-Marshad, signed a USD 10 million agreement with the Minister of Finance and Treasury, Hon. Manasseh Sogavare.
The agreement provides USD 10 million in funding from SFD to support renewable energy development in Solomon Islands, aligning with the government’s focus on sustainable and resilient infrastructure.
During a meeting with Prime Minister Hon. Jeremiah Manele prior to the signing, Mr. Al-Marshad underscored the significance of the agreement as SFD’s first development partnership in the Pacific region.