Saudi Arabia’s SFD funds electricity project in Rwanda

Saudi Arabia’s SFD funds electricity project in Rwanda

Saudi Fund for Development (SFD) signed an agreement for a concessional development loan of $20m to finance the electricity delivery project in the Kamonyi District in Rwanda. The signing ceremony was attended by a number of officials from both sides. The project aims to build a network of medium and low-pressure power lines and electricity distribution transformers to provide electricity to households, public institutions, and social facilities in the Kamonyi District. This project is part of a wider Energy Access and Quality Improvement Programme; it’s objective is to improve access to reliable and cost-effective electricity services for several of the most underserved areas in the country. The programme will benefit approximately 60,000 people and enhance economic, agricultural, and industrial activities, create direct and indirect employment opportunities, improve livelihoods, support Rwanda’s economic growth, and promote sustainable living. During the signing ceremony, the CEO of SFD, Sultan Al-Marshad, stressed the importance of this project, which will support the Kamonyi region with electricity infrastructure and enhance sustainable economic and social development in Rwanda. He also praised the 47-year-old relationship between and Rwanda. In addition, Al-Marshad said, “Based on the cooperation, we hope that this project will be a source of development and bring