SAUDI-FUND-DEVELOPMENT
A delegation from the Saudi Fund for Development (SFD), headed by the Director General of Asia Operations at the Fund, Dr. Saud bin Ayed Al-Shammari, laid the foundation stone for the Rehabilitation and Construction of the Facilities Adjacent to the Coastal Road (Vlora – Orikum) project, in the Republic of Albania. The project is funded by SFD with a development soft loan of USD30 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221214005566/en/
SFD delegations and Albanian officials at the ceremony to lay the foundation stone for the project (Photo: AETOSWire)
Aimed at developing the infrastructure sector in the Republic of Albania, the 11 km project aims to rehabilitate and raise the standards of service provision for the adjacent area of the beach – coastal road (vlora – orikum). This includes rehabilitating public facilities and providing essential services such as water, electricity, and sanitation to the beach areas.
In addition to enhancing trade and economic levels in the country, the project will help achieve a number of sustainable development goals, including Goals 11, 15 and 17 concerned with creating sustainable cities and communities, improving life on land, and strengthening development partnerships.
In recognition of the Kingdom’s development efforts through SFD in the Republic of Albania since 2009, H.E. Minister Mirela praised the depth of the relationship and joint development cooperation between the two countries, indicating that this project will contribute to supporting growth and creating many job opportunities.
His Excellency Mr. Faisal Hifzy, the Ambassador of Saudi Arabia to Albania, pointed out the importance of this project and its impact on Albanian citizens, reflecting the commitment from Government of the Kingdom of Saudi Arabia through the Fund to support development projects in different countries, including the Republic of Albania, which has close ties to the Kingdom.
Commenting on the project, Dr. Saud Al-Shammari noted that this project signifies the commitment from the government of the Kingdom of Saudi Arabia, through SFD, to supporting development projects in the Republic of Albania. He praised the joint development efforts with the Republic and wished the Albanian government and people further progress and prosperity, emphasizing that this project signifies great development in the country.
Over the past years, in addition to this project, SFD has provided four development loans to contribute to funding three development projects valued at more than USD 114.5 Million, aimed at achieving the country’s sustainable development goals.
*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/20221214005566/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
Andersen Consulting indgår samarbejdsaftale med Business Meets Culture18.11.2025 22:18:00 CET | Pressemeddelelse
Andersen Consulting udvider sin globale rækkevidde gennem en samarbejdsaftale med Business Meets Culture (BMC), der er en global strategikonsulentvirksomhed med lokationer i Latinamerika, Europa og USA. Med afsæt i kulturel intelligens og indsigt i menneskelig adfærd specialiserer BMC sig i strategi, brandstrategi, kommerciel planlægning, innovation og altid transformation. Med deres egne metoder og tværfaglige teams hjælper BMC virksomheder med at knytte strategi tættere til mennesker ved at omsætte udvikling, adfærd og forretningsmæssige udfordringer til relevante muligheder for vækst. Virksomheden samarbejder med førende aktører på tværs af brancher som forbrugsvarer, finansielle tjenester, telekommunikation og teknologi. "Samarbejdet med Andersen Consulting giver os mulighed for at styrke rækkevidden og effekten af vores kulturelt forankrede strategiske arbejde," siger Fernando Parodi, som er CEO for BMC. "Sammen står vi endnu stærkere og kan tilbyde organisationer skarpere perspek
Finalists Announced for 2026 SPIE Startup Challenge, Showcasing Innovative, Investment-Ready Optics and Photonics Technologies and Applications18.11.2025 22:05:00 CET | Press release
The annual pitch competition final will be held at SPIE Photonics West Sevenearly-stage startup companies have been selected to compete for a top prize of $10,000 at the 16th annual SPIE Startup Challenge at Photonics West on 20 January. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118106028/en/ Eventual winner, Trey Daunis of Max-IR Labs, pitches their innovative technology during the 2025 SPIE Startup Challenge, engaging judges and a packed audience at SPIE Photonics West. The SPIE Startup Challenge is a competitive entrepreneurial platform for new businesses that utilize optics and photonics for innovative products or applications. Participating teams are competing for sponsored prizes, in addition to gaining increased visibility with potential investors and exposure to potential collaborators or partners. Cash prizes of $10,000, $5,000, and $2,500, provided by Startup Challenge Founding Partner Jenoptik, will be awa
Owkin Unveils Europe’s First Pan-European Agentic Infrastructure for Biology at the Franco-German Digital Sovereignty Summit18.11.2025 21:48:00 CET | Press release
At today’s Franco-German Summit on Digital Sovereignty in Berlin, Owkin, together with leading academic partners Gustave Roussy (France) and Charité Comprehensive Cancer Center (Germany), announced a landmark initiative to build the first pan-European agentic infrastructure to make biological data AI-ready, as a key step towards biological super intelligence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118529021/en/ Thomas Clozel (CEO of Owkin) joins Emmanuel Macron, Friedrich Merz and others at the Franco-German Digital Sovereignty Summit The project aims to develop and deploy modern AI methods to support biological research and drug development. An initial focus will be on supporting the harmonization and structuring of biomedical data across Europe to enhance scientific collaboration. It will combine agentic AI systems and cutting-edge biomedical data structuring, to power a new reasoning model capable of automating
Reply at Microsoft Ignite 2025: Showcasing AI Innovation, Copilot Experiences, and Intelligent Enterprise Solutions18.11.2025 21:30:00 CET | Press release
Reply [EXM, STAR: REY] is taking part in Microsoft Ignite 2025, a premier event for technology professionals and decision-makers hosted by Microsoft, held from November 18 to 21 in San Francisco, California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118836834/en/ A trusted Microsoft partner since 1996, Reply empowers organizations to innovate with Microsoft technologies, driving agility, intelligence, and sustainable growth. A trusted Microsoft partner since 1996, Reply empowers organizations to innovate with Microsoft technologies, driving agility, intelligence, and sustainable growth. With more than 2,000 Microsoft certifications across its network of companies – including Business Elements Reply, Cluster Reply, Solidsoft Reply, Light Reply, Root16 Reply, Valorem Reply, WM Reply and Zest Reply – the group has achieved all six Microsoft Solutions Partner designations. This year, Reply is also celebrating two major h
ClickHouse Strengthens Collaboration with Microsoft through Microsoft OneLake Integration for Seamless Data Interoperability18.11.2025 21:00:00 CET | Press release
ClickHouse Inc., the company behind one of the world’s fastest and most popular real-time analytics databases, today announced the availability of a powerful new integration with Microsoft OneLake, the unified data lake of Microsoft Fabric. This integration enables organizations to harness the scale, governance, and simplicity of OneLake with the speed and flexibility of ClickHouse for real-time, large-scale analytical workloads. Learn more in our technical post. Expanding the ClickHouse-Microsoft collaboration Following the general availability of ClickHouse Cloud on Microsoft Azure, recent performance enhancements of ClickHouse on Azure Blob Storage, and a steady series of new capabilities, this integration with Microsoft OneLake marks the latest milestone in ClickHouse’s growing collaboration with Microsoft. This initiative reinforces ClickHouse’s commitment to deep interoperability across Microsoft’s data ecosystem. From Azure to Fabric, the goal is to enable real-time analytics wi
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