SFD Participates in Inauguration of Arqiz Project in Mauritania
Arqiz Project's Goals, Contributions
The Saudi Fund for Development participated in the opening of the Arqiz Agricultural Project in the Islamic Republic of Mauritania.
The Fund contributed $34 million to the project, according to Saudi Press Agency.
The inauguration was attended by President of Mauritania Mohamed Ghazouani and Saudi ambassador to Mauritania Mohammed Al-Balawi.
Arqiz Project’s Goals, Contributions
The Arqiz project aims to enhance water and food security and enable self-sufficiency for beneficiaries. Additionally, it contributes to the development of other vital sectors. Believing in the importance of this sector, the Saudi Fund for Development helped reclaim approximately 6,700 hectares of agricultural land.
Consequently, this aids in increasing agricultural productivity, creating job opportunities, improving water facilities, irrigation, drainage, road rehabilitation, providing agricultural equipment, and ensuring potable water for farmers.
Therefore, these efforts contribute significantly to improving agricultural services for the people of Mauritania.
Funding, Continuous Support
The funding for this Arqiz project is part of the Fund’s ongoing efforts to boost various vital sectors and economic growth. Since 1979, the Fund has provided 20 developmental projects and programs in Mauritania through developmental loans, totaling over $665 million.
Additionally, it manages generous grants from the Saudi government, financing 28 developmental projects worth more than $151 million. These contributions play a significant role in the growth and prosperity of various vital sectors.
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