Al-Mashat: King Salman’s Program for the Development of the Sinai Peninsula is the most prominent cooperation program between the government and the Saudi Fund for Development
Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, affirmed the depth of Egyptian-Saudi relations that extend for many years, witnessing a momentum of cooperation at all levels and a convergence of visions and common positions. She explained that the King Salman Program for the Development of the Sinai Peninsula is one of the most prominent cooperation programs between the government and the Saudi Fund for Development, in light of the strategic importance of this precious region of Egypt, as the Fund has financed 10 projects in Sinai in the sectors of water, higher education, scientific research, agricultural development and residential communities.
This came in a speech delivered by Dr. Rania Al-Mashat during the celebration held by the Saudi Fund for Development to celebrate the 50th anniversary of its establishment in the Saudi capital, Riyadh, under the slogan "50 Years of Global Influence", where she congratulated the Kingdom of Saudi Arabia and the leaders of the Saudi Fund for Development on the occasion of the 50th anniversary of its establishment.
She pointed to the pioneering projects that the Fund contributed to financing, including the project of the triple treatment plant for Al-Mahsama wastewater The launch of horizontal silos for grain storage and the development of Kasr Al-Aini Hospital.. stressing that the Fund is one of the regional institutions supporting development efforts through influential partnerships and contributing to financing priority projects.
She noted the role played by the Ministry of Planning, Economic Development and International Cooperation in developing economic cooperation relations with multilateral and bilateral development partners and matching development financing with sustainable development goals and the importance of international participation to achieve a sustainable economy based on enhancing the efficiency of resource use and building multilateral and bilateral partnerships.
The celebration was attended by Prince Turki bin Faisal bin Abdulaziz, Chairman of the Board of Directors of the King Faisal Center for Research and Islamic Studies, Ahmed Al-Khatib, Chairman of the Board of Directors of the Fund, Dr. Mohammed Al-Jasser, President of the Islamic Development Bank Group, Osman Dione, Vice President of the World Bank for the Middle East and North Africa Region, Akinwumi Adesina, President of the African Development Bank, heads of financial institutions within the Arab Coordination Group (ACG), officials of the Asian Development Bank and senior officials in the Kingdom and various countries in addition to Heads of regional and international organizations, ambassadors of countries to the Kingdom, and representatives of the United Nations. The head of the International Monetary Fund also delivered a recorded speech during the celebration.
The Arab Republic of Egypt’s relations with the Saudi Fund for Development began in 1975, one year after its establishment. The Ministry of Planning, Economic Development and International Cooperation coordinates cooperation with the Fund within the framework of the close relations between the two sister countries. Since that date, the partnership has developed significantly through the Fund’s contribution to financing many development projects in various sectors, reaching 32 projects in areas including health, education, supply, irrigation, electricity, transportation, roads, agriculture, and housing.
