SFD Signs First Dev’t Agreement to Support Argentina’s Water Sector
At the SFD headquarters in Riyadh, CEO Sultan bin Abdulrahman Al Murshed signed the first concessional developmental loan agreement, provided by the fund, amounting to $100 million.
The loan was signed with Argentine representatives, Governor Juan Schiaretti of Córdoba and Governor Omar Perotti of Santa Fe, to contribute to the funding of the initial phase of the joint water canal project in the provinces of Santa Fe and Córdoba in the Republic of Argentina.
Project Objective
The signed agreement for the initial phase aims to meet the increasing demand for clean drinking water from the residents of Santa Fe and Córdoba, thus enhancing water resources.
The project is expected to provide water to over 410,000 beneficiaries in 54 cities.
It aligns with the third goal of sustainable development concerning good health and well-being, and the sixth goal relating to clean water and sanitation.
Additionally, the project aims to promote and stimulate direct and indirect employment opportunities for residents, supporting social growth and economic prosperity.
Reactions
The CEO of SFD emphasized that this agreement plays a pivotal role in supporting access to clean drinking water.
This water is a fundamental necessity for human life to minimize diseases and epidemics resulting from contaminated water.
The fund contributes a vital role in supporting this crucial project, with aspirations to continue supporting projects improving access to clean drinking water in various countries worldwide.
Governor Schiaretti expressed his pleasure in being in his second homeland, Saudi Arabia,
He appreciated the signing of this agreement, which marks the commencement of developmental cooperation between both sides.
On the other hand, Governor Perotti appreciated the efforts of the SFD team and cooperation, adding that these efforts led to the inking of this agreement, praising this significant historical step.
Significance
This agreement marks the initial step of cooperation between the Saudi Fund for Development and the Republic of Argentina.
So Argentina becomes the ninety-third country to receive support and funding for a developmental project from SFD.
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