H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the Saudi Fund for Development’s 50th-anniversary celebration held in Riyadh, Saudi Arabia, under the theme “50 Years of Global Impact.”
The event featured the attendance of Prince Turki Al-Faisal bin Abdulaziz, Chairman of the King Faisal Center for Research and Islamic Studies; Mr. Ahmed Al-Khatib, Chairman of the Saudi Fund for Development; Dr. Mohammed Al-Jasser, President of the Islamic Development Bank Group (IsDB); Mr. Ousmane Dione, Vice President of the World Bank for Middle East and North Africa; and Mr. Akinwumi Adesina, President of the African Development Bank. Also present were heads of financial institutions from the Arab Coordination Group (ACG), representatives from the Asian Development Bank, and senior officials from Saudi Arabia and other nations. The event was also attended by heads of regional and international organizations, ambassadors, and representatives from the United Nations, with the Managing Director of the International Monetary Fund (IMF) delivering a recorded address during the celebration.
In her remarks, H.E. Dr. Rania A. Al-Mashat extended her congratulations to the Kingdom of Saudi Arabia and the leadership of the Saudi Fund for Development (SFD) on this milestone anniversary. She highlighted the fund’s pivotal role as a leading regional institution, recognized for its significant contributions to global development efforts through impactful partnerships and the financing of priority projects.
The Minister emphasized the long-standing partnership between Egypt and Saudi Arabia, which have fostered strong cooperation across all sectors and alignment on shared visions and strategic positions. She underscored the King Salman Program for the Development of the Sinai Peninsula as a prime example of the collaboration between the Egyptian government and the SFD. This program reflects the strategic importance of Sinai, where the fund has financed ten major projects across sectors such as water, higher education, scientific research, agricultural development, and residential communities. Among the key projects highlighted by Dr. Al-Mashat were the Al-Mahsama Water Treatment water station, the construction of horizontal grain silos, and the development of Qasr El-Aini Hospital.
H.E. Dr. Al-Mashat also spoke about the Ministry’s ongoing efforts to deepen economic cooperation with both multilateral and bilateral development partners. She emphasized the alignment of development financing with the Sustainable Development Goals (SDGs) and highlighted the importance of international partnerships in building a sustainable economy—one that maximizes resource efficiency and fosters multi-stakeholder cooperation.
The partnership between Egypt and the SFD began in 1975, just a year after the fund’s establishment. The Ministry of Planning, Economic Development and International Cooperation continues to coordinate this cooperation, reflecting the strong and historic ties between the two nations. Over the years, the partnership has significantly expanded, with the fund financing 32 development projects across sectors such as health, education, food security, irrigation, electricity, transportation, roads, agriculture, and housing.