The Africa Finance Corporation has signed a memorandum of understanding with Saudi Fund for Development to jointly finance sustainable and impactful infrastructure projects across Africa.
According to the firm, the collaboration aims to coordinate in identifying, developing, and co-financing infrastructure and development projects across the continent. “In Africa alone, SFD has financed over 400 projects in 46 countries worth US$10.7 billion, accounting for 57 percent of its funding in developing countries worldwide, and supporting sectors including agriculture, energy, industry, transportation, and social infrastructure.”
On his part, Sultan Al-Marshad, CEO of SFD, said the signing of the MoU with the AFC “is a significant step forward in collaborating to finance sustainable and impactful infrastructure projects across Africa”.
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