SAUDI-FUND-DEVELOPMENT
14.12.2022 13:33:38 CET | Business Wire | Press release
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
comforte Launches TAMUNIO Assure to Modernize HPE Nonstop Cryptography for the Post-Quantum Era2.6.2026 10:10:00 CEST | Press release
New solution helps HPE Nonstop teams modernize SSH & SSL/TLS security using quantum-safe cryptography, centralize key and secrets management, and automate certificate and key lifecycles. comforte AG, a global leader in data-centric security for HPE Nonstop environments, today announced the launch of TAMUNIO Assure, a purpose-built solution for HPE Nonstop that helps organizations modernize cryptographic security without application rewrites or disruption to mission-critical systems. TAMUNIO Assure helps organizations enhance SSH & SSL/TLS security, centralizing keys, credentials, certificates, and secrets, and automating certificate and key lifecycle management across HPE Nonstop systems. The result is stronger security, more cost-effective operations, and a quantum-safe security posture without rewriting critical applications or introducing high-risk platform changes. The crypto operating model for HPE Nonstop is changing HPE Nonstop systems power some of the world’s most demanding tr
NIPPON KINZOKU Launches Sample Supply of “Internally Polished Capillary Tubes” for High-Performance Analytical Instruments2.6.2026 10:01:00 CEST | Press release
- Achieving Internal Surface Roughness of Ra ≤ 0.2μm in Ultra-Small 0.30 mm ID Tubing - NIPPON KINZOKU CO., LTD. (TOKYO: 5491) (Headquarters: Minato-ku, Tokyo) announces the launch of a sample supply system for its "Internally Polished Capillary Tubes." This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602111592/en/ Cross-section of the tube after polishing These tubes feature significantly enhanced internal smoothness in ultra-small sizes, realized through the development of the company’s proprietary internal polishing technology. We are currently proceeding with the design and construction of manufacturing equipment, aiming for mass production within fiscal year 2027. Background: Rising Demand for "Ultra-Small Diameter x Ultra-Smooth Internal Surfaces" We have previously developed high-precision, small-diameter tubes made of austenitic stainless steel with an internal diameter (ID) of 0.50mm and internal surface roughness
OPEX® Honored with Warehouse Automation Solution of the Year Award for First-of-its-Kind Cold Storage Solution2.6.2026 10:00:00 CEST | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has been honored by Logistics Matters magazine with the 2026 Warehouse Solution of the Year Award. OPEX was recognized for the company’s first-of-its-kind, multi-temperature zone, multi-deep cold storage solution for automated warehouse fulfillment systems, enabled through a strategic technology partnership with cold chain commerce innovator Peltier. The collaboration introduced advanced, multi-temperature capabilities to OPEX’s industry-leading Perfect Pick® and Infinity® automated storage and retrieval systems (AS/RS) through the addition of the Peltier Tote™. “We’re deeply honored to receive such distinguished recognition by Logistics Matters magazine,” said Monty McVaugh, Head of Product, Warehouse Automation, OPEX. “By integrating Peltier’s tote technology into the existing framework of Perfect Pick and Infinity, OPEX can deliver a flexible,
Smartstream Launches Smart Agents for Back-Office Operations, Proven Across Tier 1 Pilots2.6.2026 09:55:00 CEST | Press release
Key Facts Smart Agents is now widely available to Smart Reconciliations clients, covering bank reconciliations, cash breaks, settlement exceptions, and post-trade investigations — combining client institutional knowledge with Smartstream’s domain expertise to deliver value from day one. Pilot results demonstrate a 97% reduction in investigation time per exception, from 14 minutes manually to 30 seconds, with Tier 1 clients projecting 50–70% automation in year one. Smart Agents surfaces the steps requiring human action and executes everything else autonomously — including counterparty and internal communications, available in assistive and autonomous operating modes with human-in-the-loop oversight, full audit trail, step-by-step explainability, complete data privacy, and intelligence that compounds continuously over time. Smartstream, a trusted data solutions provider for leading global financial institutions and enterprises, today announced the availability of Smart Agents, its agenti
ThetaRay Gamifies Financial Defense at Money20/20 Europe with a Compliance Twist on “Where’s Waldo”2.6.2026 09:30:00 CEST | Press release
With “Spot The Money Mule”, ThetaRay unites Agentic AI and public education to disrupt criminal recruitment; pushing for an ecosystem-wide stand against illicit finance. ThetaRay, a leader in AI infrastructure for financial crime compliance, today unveiledSpot The Money Mule at Money20/20 Europe. The high-speed online game is a compliance twist on "Where’s Waldo" for the AI age, designed to bridge the gap between complex banking infrastructure and the public’s role in stopping global crime. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602629234/en/ The game challenges players to find a money mule hidden in plain sight across five buzzing everyday scenes, from the morning rush at an airport to the vibrant rows of a Dutch Tulip Festival. “In the AI age, the most dangerous threats are those that blend perfectly into the speed of our digital lives,” said Garima Chaudhary, VP Financial Crime & Compliance AI at ThetaRay. “In
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