In the presence of the President of the Republic of Seychelles, H.E. Wavel Ramkalawan; The Saudi Fund for Development (SFD) (www.SFD.gov.sa) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Seychelles, the 33 KV Transmission Network of South Mahe Island Project, with the Minister of Agriculture, Climate Change and Environment of Seychelles, Hon. Flavien P Joubert. Attending the inauguration ceremony were the Vice President of the Republic of Seychelles, Mr. Ahmed Afif, alongside other Ministers, designated representative of BADEA, and government officials from each side.
SFD had previously made a contribution of $20 million USD towards this important project, aimed at improving the electricity distribution network in the southern part of South Mahe Island to ensure a reliable supply of electric power for the population, and support activities across important sectors of the economy.
This project will play a vital role in improving the lives of the people of South Mahe. It will provide affordable electricity to thousands of households and businesses, boosting economic activity, and creating new jobs. It will also support the public health and education sectors, creating a more sustainable future for the island.
This project reflects SFD’s commitment to supporting sustainable development in developing countries and Small Island Developing States (SIDS) around the world. Moreover, it contributes towards the achievement of the United Nations Sustainable Development Goals, specifically SDG 7, which calls for universal access to affordable, reliable, sustainable, and modern energy.
On this occasion, the Minister of Agriculture, Climate Change and Environment of The Seychelles, Hon. Flavien P Joubert, said: “We are grateful to the SFD for their generous support in funding the 33kV Transmission Network South Mahe Project. Their contribution has been instrumental in modernizing our electricity infrastructure and improving the reliability and efficiency of our electricity transmission and distribution network. We look forward to continuing our partnership with international development funds as we work towards our goal of providing Seychelles with a more sustainable and prosperous future.”
On his part, the CEO of the Saudi Fund for Development, H.E Sultan Al-Marshad, said: “The 33 KV Transmission Network of South Mahe Island aligns with SFD’s commitment to supporting sustainable development in developing countries worldwide. Electricity is an essential utility for the development of any nation, and we are proud to have contributed towards improving the lives of the people of South Mahe. Families, businesses, and individuals now have access to reliable and affordable electricity which will play a major role in ensuring a bright future for South Mahe.”
The SFD is committed to supporting sustainable development in the developing countries and Small Island Developing States (SIDS) worldwide. With decades of expertise since its establishment in 1974, it has implemented more than 700 development projects worth $18.7 billion USD in over 90 countries worldwide. Across Africa, SFD has helped to fund more than 400 development projects and programs in various sectors worth $10.7 billion USD, across 46 countries. This accounts for over 57% of SFD’s total funding in developing countries around the world.
Distributed by APO Group on behalf of Saudi Fund for Development.
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About the Saudi Fund for Development:
The Saudi Fund for Development (SFD) is a government entity that provides soft development loans and grants to finance development projects and programs in developing countries.
Since 1975, SFD has financed over 700 infrastructure projects in over 90 countries across various sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining, and others. The projects support generating socio-economic development and help to improve the living standards of disadvantaged communities in countries most in need. SFD’s activities are aligned with the international development principles and contribute towards realizing the UN’s Sustainable Development Goals. Moreover, it unifies its efforts in development support through partnerships and cooperation with regional and international organizations. https://www.SFD.gov.sa/en