Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth

This section is Partnership Content suppliedThe content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth Business WireArticle contentNGERULMUD, Palau — The Saudi Fund for Development (SFD) today signed a USD 15 million development loan agreement with the Republic of Palau, marking the Fund’s first-ever development partnership in the Pacific island nation.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe agreement was signed by H.E.

Sultan Abdulrahman Al-Marshad, Chief Executive Officer of SFD, and H.E. Surangel S. Whipps Jr., President of the Republic of Palau during a ceremony in Palau’s capital, Ngerulmud.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe USD 15 million development loan will be channeled through the National Development Bank of Palau. Designed to empower the local economy, the financing will support projects spearheaded by Palauan developers, businesses, and entrepreneurs. By aligning with Palau’s national priorities, the funds will catalyze high-impact initiatives and foster sustainable, grassroots economic growth.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThis agreement reflects SFD’s continued commitment to Small Island Developing States (SIDS), having supported development projects across 18 island nations in the Caribbean and Pacific regions. Through its financing, SFD contributes to strengthening economic resilience, expanding access to essential services, and enabling sustainable development in developing economies.Article contentH.E. Surangel S. Whipps Jr., President of the Republic of Palau, stated the deep appreciation for the assistance. He noted: “This agreement is about building a stronger Palauan economy by channeling this financing through our National Development Bank so that Palauan developers, businesses, and entrepreneurs can lead new projects that create jobs, unlock investment, and keep more value here at home. At the same time, by prioritizing affordable, climate-resilient housing, we are strengthening our communities, giving our young people more reasons to build their future in Palau, and laying a more resilient economic foundation for generations to come.”Article contentH.E.

Sultan Abdulrahman Al-Marshad, CEO of SFD, stated: “We are proud to launch our first collaboration with the Republic of Palau. By expanding access to vital funding, we aim to uplift local entrepreneurs and help secure a resilient future for the Palauan people. This agreement embodies our broader mission to foster prosperity across island nations.”Article contentSince its establishment in 1974, SFD has supported developing countries through concessional financing, contributing to sustainable social and economic growth worldwide.Article contentAbout the Saudi Fund for Development:Article contentThe Saudi Fund for Development (SFD) is a government institution that provides concessional development loans, to finance projects and programs in developing countries.Article contentSince its establishment in 1974, SFD has financed more than 800 projects and programs in over 100 countries, with a total value exceeding USD 22 billion. These projects span sectors including transportation and communications, social infrastructure, agriculture, energy, industry and mining, among others. These projects contribute to generating socio-economic growth and improving the living standards of disadvantaged communities in countries most in need. SFD’s activities are guided by international development principles and support the achievement of the United Nations Sustainable Development Goals. The Fund also works to strengthen development cooperation through partnerships with regional and international organizations.Article content*Source: AETOSWireArticle contentArticle contentArticle contentView source version on businesswire.com: Article content https://www.businesswire.com/news/home/20260406306007/en/Article contentArticle contentContactsArticle contentNawaf Alojrush, Director of Media Relations, Saudi Fund for Development alojrush@sfd.gov.sa +966112714148Article contentTrending Posthaste: Why Canadians will feel the squeeze of soaring gas prices more than Americans News Opinion: The world has an energy problem and Canada is the solution Energy Subscriber only. What's behind Chip Wilson's proxy war with Lululemon Subscriber only Retail & Marketing Garry Marr: With housing prices flat, the high cost of moving has never been more clear Personal Finance Amazon, airlines add fuel surcharges amid high gas prices Oil & Gas Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Why Canadians will feel the squeeze of soaring gas prices more than Americans News Opinion: The world has an energy problem and Canada is the solution Energy Subscriber only. What's behind Chip Wilson's proxy war with Lululemon Subscriber only Retail & Marketing Garry Marr: With housing prices flat, the high cost of moving has never been more clear Personal Finance Amazon, airlines add fuel surcharges amid high gas prices Oil & Gas