SAUDI-FUND-DEVELOPMENT
5.12.2023 13:49:33 CET | Business Wire | Press release
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
Navan Drives Global Travel and Expense Efficiencies at Viessmann Generations Group23.6.2026 10:01:00 CEST | Press release
Global purpose-driven family company improves transparency, cost control and employee experience with Navan Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced its collaboration with Viessmann Generations Group, a global family company with 109 years of entrepreneurial heritage, guided by the purpose of co-creating living spheres for generations to come. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623797613/en/ Global purpose-driven family company improves transparency, cost control and employee experience with Navan Since implementing Navan in 2023, Viessmann Generations Group has increased transparency, reduced manual effort and improved the employee experience across travel and expense. Before partnering with Navan, Viessmann Generations Group managed travel and expense processes across several tools and workflows. Employees faced long support wait times, while the finan
ISOPLUS Selects Navan to Consolidate Global Travel and Expense Operations23.6.2026 10:00:00 CEST | Press release
Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced it has been selected by ISOPLUS, a leading manufacturer of pre-insulated pipe systems for district heating and cooling, to consolidate its global travel and expense program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623669736/en/ Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Following the success of Navan’s partnership with the wider Viessmann Generations Group, ISOPLUS has chosen to consolidate its travel and expense operations with Navan – moving away from significant unmanaged travel and expense. “Navan automates that tedious work and gives us the real-ti
Infobip and Digitas Middle East Sign Expansion of Their Strategic Partnership to Power AI-Driven Customer Engagement for Global Brands23.6.2026 10:00:00 CEST | Press release
The global AI-first cloud communications platform Infobip, today announced a partnership with Digitas, the Marketing Transformation arm of the Publicis Groupe, the world's foremost communications agency holding group. Under the partnership, Infobip and Digitas ME will build a joint service practice around the Infobip AgentOS platform, bringing together Infobip's enterprise communications infrastructure and Publicis Groupe’s deep capabilities in data, AI, customer experience strategy, and media transformation. The partnership is supported by a global framework agreement with the roll out starting across MENA and APAC initially. The collaboration addresses a growing need: bringing together marketing transformation, AI-driven personalisation, and real-time business messaging into a single, coherent customer experience. Where Publicis Groupe shapes how global brands engage their customers, across media, data, loyalty, and commerce, Infobip provides the communication infrastructure to make
Hytera Launches W60 Wearable MCS Radio to Extend Mission-Critical Communication Beyond PMR Coverage23.6.2026 09:58:00 CEST | Press release
Hytera, a leading global provider of critical communications technologies and solutions, launched the W60 Wearable MCS Radio at Critical Communications World (CCW) 2026. Designed to complement existing PMR systems, the lightweight wearable device helps organizations maintain mission-critical communications beyond the coverage limits of traditional radio networks, supporting safer and more connected operations across public safety, transportation, energy, and industrial sectors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622677096/en/ W60 Wearable MCS Radio for connected operations beyond PMR coverage Extending Communication Beyond PMR Coverage Maintaining reliable communications in basements, tunnels, underground facilities, and other hard-to-cover environments remains a challenge for many organizations. Expanding PMR infrastructure in these locations often requires significant investment and deployment time. The W60
Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications23.6.2026 09:10:00 CEST | Press release
Samsung’s UFS 5.0 solution achieves industry's highest data transfer speed of 10.8GB/s, enabling faster storage and processing in mobile memoryEnhanced power efficiency and smaller package to provide optimal mobile AI experiences Samsung Electronics Co., Ltd., the world leader in advanced memory technology today announced that, for the first time in the industry, it has developed the industry's fastest Universal Flash Storage (UFS) 5.0 solution, which will help enable seamless and highly efficient AI services on future mobile devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623632789/en/ Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications The milestone sets a new benchmark for the next-generation mobile memory market as the enhanced performance is expected to allow mobile device users with significantly reduced latency and faster response times when running large language mode
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