Saudi Fund for Development Signs New $20 Million Development Loan Agreement to Construct and Equip Schools in Tajikistan

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $20 million USD to fund the fifth phase of the “Constructing and Equipping of Secondary Schools” project in Tajikistan. Attending the signing ceremony was the Deputy Minister of Finance of the Republic of Tajikistan, Majidi Yusuf Khayrullo, and the Saudi Ambassador to Tajikistan, H.E. Waleed Al-Reshiadan, alongside other officials from both sides.

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The signing of today’s loan agreement will construct and equip 19 schools across different regions of Tajikistan, to cater for the rising demand for education. Once completed, it will enhance the country’s educational landscape, benefitting approximately 30,000 students.

This marks a continuation of SFD’s contributions towards developing and improving public education in Tajikistan, and aligns with its efforts to promote sustainable development in developing countries around the world. The signing brings the total contribution of the Fund towards the education sector in Tajikistan to $95 million USD, through which it will establish 76 public schools in total.

Additionally, it will benefit Tajikistan’s economy by creating direct and indirect jobs, both during the construction phase, and by employing teachers in the different regions where the schools will be based.

The project aligns with the UN Sustainable Development Goals (SDGs), specifically SDG 4, Quality Education, and SDG 8, Decent Work and Economic Growth. Moreover, and aims to ensure that more children across the nation have access to quality education. It represents yet another key milestone in the longstanding relationship between SFD and Tajikistan, which extends for over 20 years.

The signing ceremony followed the previous day’s participation of SFD’s CEO in the inauguration of Shahrinav School. Built during the fourth phase of the same project, for which SFD had contributed $35 million USD, Shahrinav School will host 36 classrooms and 620 students.

The SFD has decades of expertise since its establishment in 1974, and has implemented more than 700 development projects worth $18.7 billion USD in over 90 countries worldwide. In Tajikistan, SFD has financed 12 development projects worth over $190 million USD to support developmental projects in key sectors.

Source: AETOSWire

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