- About Us
- South-South Cooperation
The Kingdom of Saudi Arabia has created the Saudi Fund for Development in 1974, which become fully implemented in 1975. The Fund aims to as it explains on the charter is to participate in financing of development projects in developing countries through granting of loans to said countries and to encourage national non-crude-oil exports by providing finance and insurance in support of such exports. The country is also key partner on the regional and multilateral context of South-South Cooperation playing a key role in the Arab world and on the oil producers and exporting countries organization (OPEC). Saudi Cooperation has also been enlarged to developing countries outside of the Arab world. The GCC, South America-Arab Summit is platform examples of the interests of the country in enhancing sub-regional and regional cooperation.
Examples of Key Projects of Saudi Arabia
|AGFund||The AGFUND, a regional development institution, established in 1980 by the initiative of Saudi Arabia. The Fund has the support of the leaders of the Arab Gulf States who constitute its membership and contribute to its budget. AGFUND supports sustainable human development efforts targeting the neediest in developing countries, particularly women and children, through support of the efforts strongly affecting the development process, including those aimed at improving the educational and health standards, supporting poverty combating programmes and those which support institutional structures. This is done in cooperation with national, international and regional organizations, NGOs and other institutions engaged in development, without any discrimination as to sex, creed or political affiliation. Since its establishment in up-till 2006, AGFUND contributed the supporting and financing of 1,045 projects in 131 countries in Asia, Africa, Latin America and Eastern Europe, with a total worth of more than US$ 235 million. This amount was extended in cooperation with 19 national and international and regional institutions. AGFUND also established a number of Arab regional institutions, which included the Arab Council for Childhood and Development, Arab Women Centre for Research and Training, Arab Network of NGOs and the Arab Open University. AGFUND established AGFUND International Prize for Pioneering Development Projects. The Prize carries financial rewards of US$ 300,000 (three-hundred thousand US dollars) distributed on three categories according to the agency implementing the project nominated for the Prize.
|Saudi Arabia is one of the key supporters of the AAAID - Arab Authority for Agricultural Investment and Development among other Arab nations. The AAAID was established in 1976 in Khartoum, Sudan with the primary objective of assisting in the agricultural development of the Arab world. The Authority has a number of projects in African countries. In Mauritania, for example the AAAID has supported the poor villages surrounding the agricultural research station of AAAID in the city of Russo. The objective was to contribute in poverty reduction and to enhance family food security to beneficiaries in a sustainable manner by extending urgent assistance to the poor. In the Hanzwan island in Bambawa Mitsanga area in Union of the Comoros the AAAID operationalized an agricultural development centre to boost agricultural research and technologies more adequated to local conditions. Also the establishment and operation of a tissue culture laboratory in Comoros with the objective of supplying high yield disease resistant banana varieties. AAAID supported agrarian cooperatives in Russo in Mauritania, including female agrarian societies, and supplying them (on the basis of easy deferred payment) with production inputs and a project for provision of drinking water for humans and animals, and basic developmental services.|
Source: Ministry of Foreign Affairs of Saudi Arabia
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