SFD Invests $14 Million In Kosovo's Transportation Sector To Enhance Highway

The Saudi Fund for Development (SFD) Chief Executive Sultan bin Abdulrahman Al-Marshad has signed a $14.13 million development soft loan agreement with Kosovar Minister of Finance, Labor and Transfers Hekuran Murati. This funding will support the Pristina-Mitrovica highway project.

Kosovar Minister of Environment, Planning and Infrastructure Liburn Aliu and the Kingdom's non-resident ambassador to Kosovo, Faisal bin Ghazi Hifzi, were present at the signing ceremony. The agreement extends a project initially funded by SFD in 2013.

The project aims to develop and rehabilitate the highway, including improving drainage services and expanding the road to cover 27 km. The primary goals are to enhance safety, reduce accidents, and facilitate smoother traffic flow.

The highway is expected to handle up to 27,000 vehicles daily. This infrastructure improvement will promote social and economic growth between regions, create job opportunities, and contribute significantly to sustainable development goals such as sustainable cities and local communities.

Since its establishment in 1975, SFD has funded over 800 development projects and programs totaling more than $20 billion across more than 100 developing countries. These projects have spanned various sectors, directly impacting communities worldwide.

The agreement underscores SFD's commitment to supporting vital opportunities in developing countries globally. It also highlights the importance of international cooperation and solidarity in achieving sustainable development goals.

This initiative instills optimism about its long-term benefits by contributing to sustainable development goals. The project is expected to foster social and economic growth while creating job opportunities in the region.

Overall, this agreement reflects SFD's dedication to fostering growth in developing nations through strategic funding and international collaboration.

With inputs from SPA