SAUDI-FUND-DEVELOPMENT
The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $100 million USD to fund the Rogun Hydropower Project, a landmark initiative that will enhance energy, food, and water security, and foster sustainable development in the country.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231205003776/en/
SFD’s CEO, H.E. Sultan Al-Marshad and Tajik Finance Minister, H.E. Kahhorzoda Fayziddin Sattor commemorate $100 million development loan agreement. (Photo: AETOSWire)
The signing was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Tajikistan, H.E. Waleed Al-Reshiadan, and the Ambassador of Tajikistan to Saudi Arabia, H.E. Akram Karimi, alongside other officials from both sides.
SFD’s development loan will help contribute towards a more sustainable and equitable food and water future for Tajikistan, while driving the country’s energy transition and climate resilience.
The project aims to contribute to the national energy security and will help advance sustainable development in the Republic of Tajikistan, by providing the renewable electricity supply to meet local demand and expand electricity production domestically and regionally, producing 3600 MW of energy. The loan agreement will also finance the construction of a 335-meter-tall dam, which will enhance irrigation capabilities and bolster agricultural activities across the country.
Additionally, the project will improve flood protection through the construction of four hydraulic tunnels for diversion and drainage. It will also provide clean and drinkable water to people through desalination, and help advance socio-economic development, by creating both direct and indirect jobs.
Importantly, this project also supports the realization of the UN Sustainable Development Goals (SDGs); specifically, SDG 2, Zero Hunger, SDG 6, Clean Water and Sanitation, and SDG 7, Affordable and Clean Energy.
On this occasion, the CEO of SFD, H.E. Sultan Al-Marshad, said: “Today’s signing marks a major milestone in our shared journey towards a more sustainable future. With this landmark development loan, SFD is not just supporting Tajikistan's energy future, but also its sustainable development and the well-being of its people. The Rogun Hydropower Project is a beacon of hope for a bright future that is powered by clean, renewable energy. It will propel Tajikistan towards environmental stewardship and prosperity.”
Social media
Twitter: @SaudiFund_Dev
Instagram: saudifund_dev
Facebook: SaudiFundDev
YouTube:@SaudiFund_Dev
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231205003776/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Alipay Records Surge of China Inbound and Outbound Travel Spending During the 2025 Chinese New Year5.2.2025 07:59:00 CET | Press release
The number of Alipay transactions made by outbound Chinese travelers across the 90 million-strong Alipay+ global merchants network increased by 30% y-o-y. The top destinations for Chinese travelers are Singapore, Japan, Malaysia, Hong Kong SAR, and South Korea, showing the highest growth rate in total Alipay spending.China inbound travel spending via Alipay surged by 150% y-o-y in the first five days of the Chinese New Year (CNY) holiday. The number of inbound travelers using their 13 home e-wallets supported by the Alipay+ solution nearly doubled y-o-y during the first four days of the holiday.Alipay’s flagship Fortune Cards Campaign drew 600 million participants this year, reaching a cumulative of one billion users in the past decade since its launch in 2016. During the 2025 Chinese New Year, Alipay recorded a significant increase in China’s outbound and inbound travel spending. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home
Hitachi Establishes Its Fourth Corporate Venture Capital Fund to Capture Technology Turning Points and Future Growth Opportunities5.2.2025 07:00:00 CET | Press release
Total Assets Under Management (AUM) Reaches 1 Billion USD, Contributing to Sustainable Growth with a World-Class Investment Scale Hitachi, Ltd. (TSE: 6501, "Hitachi") today announced the establishment of the fourth fund of the corporate venture capital (hereinafter referred to as "CVC") fund"HV Fund" with a purpose to identify startups with the potential to create or disrupt large attractive markets, anticipate the next technological and social turning points, and generate future growth opportunities. The fourth fund will have a size of 400 million USD, which is the largest CVC fund managed by Hitachi to date. The fund will make strategic investments in startups with cutting-edge digital technologies such as data centers, distributed energy systems, future of work and industrial AI, as well as startups in new frontiers including bio, quantum, nuclear fusion, life science, space and adjacent technologies. With the establishment of the fourth fund, Hitachi's investment in CVC will reach
TriLink BioTechnologies® and Aldevron Enter into Non-exclusive License and Supply Agreement for CleanCap® mRNA Capping Technology4.2.2025 22:01:00 CET | Press release
Enabling the future development of critical therapeutics, Aldevron customers now have access to TriLink’s CleanCap mRNA capping technology for non-commercial use TriLink BioTechnologies (TriLink®), a Maravai® LifeSciences company (NASDAQ: MRVI) and global provider of life science reagents and services, has signed a non-exclusive License and Supply Agreement with Aldevron, a leading, global Contract Development and Manufacturing Organization (CDMO) providing high-quality plasmid DNA, RNA, and proteins for research, therapeutics, and diagnostics. With this agreement with Aldevron, TriLink strengthens its objective to provide greater access to CleanCap® mRNA capping technologies to those developing critical mRNA-based therapeutics and vaccines. According to the terms of the agreement, TriLink will supply its patented CleanCap® M6, CleanCap® AG 3’OMe, CleanCap® AG, and CleanCap® AU cap analogs for use in Aldevron’s mRNA development and manufacturing services, from pre-clinical through Phas
Telcoin Granted Approval to Open Nebraska’s First Digital Asset Bank4.2.2025 20:32:00 CET | Press release
Regulators give green light for first regulated bank explicitly authorized to connect US consumers to decentralized finance, ushering in a new era of blockchain-integrated banking. Telcoin, a pioneer in blockchain-based financial services, announced that its application to become Nebraska’s first Digital Asset Depository Institution has been conditionally approved by the state’s Department of Banking and Finance. This approval brings Telcoin Bank, a Digital Asset Bank, another step closer to creating the first real bridge between traditional finance and cryptocurrencies. Telcoin Bank is now poised to become the first regulated crypto bank in the United States. Its upcoming launch is expected to disrupt the US$200 billion stablecoin market and transform the financial landscape by offering fully regulated, bank-issued “Digital Cash” stablecoins, as well as an innovative suite of blockchain banking products and services. This development promises to accelerate the adoption of crypto in ma
HTEC and AI Inference Hardware Startup, d-Matrix, Announce Strategic Partnership4.2.2025 19:23:00 CET | Press release
HTEC, a global consulting, software, and digital product development company, is proud to announce a strategic partnership with d-Matrix, the creator of Corsair™, the world’s most efficient AI computing platform for inference in datacenters. HTEC Advisory Board member Sasha Ostojic, who also sits on d-Matrix's Board of Directors, was instrumental in connecting the companies and expediting the collaboration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250204571709/en/ HTEC announces partnership with d-Matrix, the creator of Corsair™, the world’s most efficient AI computing platform for inference in datacenters (Graphic: Business Wire) During their work together, HTEC will leverage its extensive expertise in AI and embedded software development to support d-Matrix in the development of its software solution. Additionally,HTEC will use an active management approach to proactively identify and address issues and robust report
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom