Belgrade, Serbia — (BUSINESS WIRE) — The Saudi Fund for Development (SFD) has signed three development loan agreements with the Republic of Serbia worth $205 million to fund key projects supporting the agriculture, education and energy sectors. This partnership, marking SFD’s first presence in Serbia, is aimed at fostering the country’s long-term socioeconomic growth. The agreements were signed by H.E. Sultan Al-Marshad, CEO of the SFD, and H.E. Siniša Mali, Serbia’s Deputy Prime Minister and Minister of Finance, in the presence of Deputy Ambassador of Saudi Arabia to Bosnia & Herzegovina, Mr. Ali Aldossary.
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„It is a great pleasure to sign three important agreements with the Saudi Fund for Development, which is the first concrete step after last year’s signing of the Memorandum of Understanding. We are grateful for the support. The projects for which this money is intended will contribute to the creation of new jobs, strengthening of our economy, and better positioning of the Republic of Serbia in the world scientific community. The agreements will also reinforce the long-term partnership between the Republic of Serbia and the Kingdom of Saudi Arabia and contribute to the implementation and development of important projects in our country.”
Mr. Mali commented on the agreements, stating that they include three projects. These projects are the Strengthen Irrigation Infrastructure in Different Areas Project, which will receive $75 million in funding, the Construction of the Bio4 Campus in Belgrade Project, which will receive $65 million, and the Development of Transmission System Operator (Phase 1) Project, also receiving $65 million.
Our initial project focuses on enhancing irrigation systems and enhancing water management in important agricultural regions. This will involve the construction of new water pumping stations, the rehabilitation of existing canals, and the establishment of a modern irrigation network that covers over 230 km. Specifically, we will be concentrating on areas like Novi Slankamen and Jasenicke Kapi with the goal of increasing agricultural productivity and ensuring effective water distribution, especially during periods of drought.
Our next project involves financing the development of the Bio4 Campus in Belgrade, which will serve as a cutting-edge scientific research hub dedicated to biotechnologies. This campus will accommodate six faculties, nine scientific institutes, and advanced laboratories, including a biosafety level 3 lab, at the University of Belgrade. The goal of this center is to facilitate the collaboration of researchers, scientists, and experts across various disciplines to foster innovation and cooperation in areas such as biology, medicine, and wastewater research.
Our final project aims to improve Serbia’s energy infrastructure by constructing a new 400 kV transmission line and modernizing current substations. This will not only increase the reliability of Serbia’s power supply but also facilitate the country’s integration into the European electricity market via the Trans-Balkan Electricity Corridor.
„Supporting sustainable development through strategic funding in infrastructure and education is central to our mission. This partnership with Serbia underscores our commitment to fostering innovation, enhancing agricultural productivity, and improving energy security in line with the Sustainable Development Goals. The projects we are funding will help create lasting benefits for the Serbian people and contribute to their socioeconomic development.”
SFD CEO Sultan Al-Marshad reflected on the agreement, stating that the organization is dedicated to supporting sustainable development on a global scale.
As the official development arm of the Kingdom of Saudi Arabia, the SFD has provided funding for over 800 projects in more than 100 countries, totaling $20 billion. In 2024, the SFD marked 50 years of advancing global development and expanded its reach to 11 new countries, including Serbia.
Źródło informacji: pap-mediaroom.pl
