Participates in Launch of Social Housing Project in Djibouti

The Saudi Fund for Development (SFD), represented by Deputy CEO Eng. Faisal Al-Qahtani participated in the inauguration of a social housing project in Djibouti. The project is part of long-standing development relations between SFD and Djibouti, with financing exceeding $30 million, in the presence of Djibouti's President Ismail Omar Guelleh, Minister of City, Urban Planning and Housing Amina Abdi Aden, and other officials.

 The project aims to improve living standards by constructing and preparing 520 housing units. It also includes social facilities and health, recreational, and educational services, along with upgrades to roads, electricity networks, and water systems. The project is expected to benefit more than 2,600 low-income citizens.

 Development relations between the two sides span over 45 years. During this period, SFD has financed more than 14 development projects through concessional loans exceeding $305 million, in addition to seven grants valued at around $100 million. These efforts have contributed to social development and economic growth in Djibouti.