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
Berkshire Hathaway Specialty Insurance Names David Lee Global Chief Human Resources Officer12.1.2026 16:27:00 CET | Press release
Berkshire Hathaway Specialty Insurance (BHSI) today announced the promotion of David Lee to Global Chief Human Resources Officer. “I am thrilled to have David leading our human resources group worldwide,” said Peter Eastwood, President and Chief Executive Officer, BHSI. “An experienced HR practitioner and lifelong student of the profession, his deep expertise, stellar work ethic, and commitment to BHSI values will continue to drive success across our global talent and HR initiatives.” David succeeds Kim Briones, who has led BHSI’s HR group since the company’s founding in 2013 and is retiring from her full-time role. “I want to express my sincere gratitude to Kim for her partnership and friendship over many years and for her outstanding leadership in building our HR function from the ground up,” Peter added. “She has played a pivotal role in growing and developing our company’s greatest asset – our global team of individuals with excellent capabilities and strong character – and in help
Owkin Advances Frontier Model Development for Biological Artificial Super Intelligence, Accelerated by NVIDIA12.1.2026 16:00:00 CET | Press release
Collaboration Leverages NVIDIA's Open Models, AI Infrastructure and Expertise to Build Next-Generation Biological Reasoning Models for Drug Development Owkin, an AI company on a mission to solve the complexity of biology, today announced a collaboration with NVIDIA to enhance OwkinZero, Owkin's biological large reasoning model. The collaboration will leverage NVIDIA's advanced AI computing ecosystem, including the Nemotron family of open models and the NVIDIA NeMo framework to improve the performance, scalability, guardrails, and robustness of Owkin's biological reasoning capabilities to accelerate future breakthroughs in drug discovery and development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260112573701/en/ Owkin Advances Frontier Model Development for Biological Artificial Super Intelligence, Accelerated by NVIDIA. This marks Owkin's first collaboration with NVIDIA and represents a significant milestone in building
SecurityBridge Announces CEO Transition to Accelerate Global Expansion12.1.2026 15:15:00 CET | Press release
SecurityBridge, a leading provider of cybersecurity solutions for SAP, today announced the appointment of Jesper Zerlang as Chief Executive Officer, effective January 1, 2026. Zerlang transitions from his role as Chairman of the Board, a position he has held for the past 12 months, as the company enters its next phase of international expansion, backed by funds advised by BUBregal Unternehmerkapital (BU). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260112824449/en/ Jesper Zerlang appointed Chief Executive Officer, SecurityBridge SecurityBridge protects SAP environments for large enterprises by reducing cyber risk across mission-critical SAP landscapes. The company is trusted by global customers to safeguard systems that power core operations, financial processes, supply chains, and digital transformation programs. “SecurityBridge is uniquely positioned at the intersection of cybersecurity and SAP – a domain I know deeply
New Clinical Study Publication Validates Respiratory Outcomes for the Onera Home-polysomnography System12.1.2026 14:30:00 CET | Press release
The results of this study provide further clinical evidence that patient-applied, patch-based PSG is a viable alternative to in-lab PSG, enabling broader access to gold-standard sleep testing. Onera Health, a leader in transforming sleep medicine, announces the recent publication of a multicenter validation study of its Onera Sleep Test System (STS) in the ERJ Open Research, a leading, fully open-access scientific journal published by the European Respiratory Society (ERS). This is the second publication from this study, and it demonstrates that the patch-based Onera STS home-polysomnography (hPSG) device accurately identifies respiratory events and distinguishes AHI severity when validated against simultaneous in-lab polysomnography and is a viable option for unattended home use. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260112821647/en/ Patient sleeps with the patient-applied Onera home Polysomnography (Onera hPSG) so
Riskified Analysis Reveals 1 in 4 Refund Dollars Is Abusive; Introduces "Dynamic Returns," a New Policy Protect Feature, to Safeguard Revenue While Increasing Customer Satisfaction12.1.2026 14:00:00 CET | Press release
Riskified (NYSE: RSKD) a leader in ecommerce fraud and risk intelligence, today released a research analysis highlighting a growing customer experience dilemma: As merchants tighten controls to fight a surge in return and refund abuse, they are inadvertently creating a more restrictive and frustrating experience for their best customers. To help retailers mitigate this challenge, Riskified has introduced a new feature in its Policy Protect solution, Dynamic Returns, AI-powered return decisions that adapt in real-time based on customer eligibility. Riskified's 2024 analysis of over a million refund claims found that 1-2% of total order value measured in sales dollars was requested back as refunds, with nearly 1 in 4 dollars claimed being abusive. In response to rising abuse, many retailers are implementing restrictive tactics like flat return fees, shorter return windows, and delaying refunds, often taking 10+ days for warehouse inspection. These measures frustrate good customers, as 68
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