Saudi Fund for Development has signed a memorandum of understanding (MoU) with Digital Cooperation Organization (DCO) to enhance cooperation and support digital development initiatives in sustainable international development.
Sultan Al-Marshad, CEO of the Saudi Fund, and Deemah AlYahya, Secretary-General of the Digital Cooperation Organization (DCO), signed the Memorandum of Understanding (MoU) at the SFD headquarters in Riyadh.
The MoU intends to strengthen cooperation between the two sides in a number of digital and development fields.
The agreement emphasizes the exchange of international expertise and knowledge, with a focus on fostering the development of an inclusive digital sector. It aims to contribute to sustainable development across various countries by addressing key challenges and opportunities.
Additionally, the MoU outlines plans to utilize technical expertise in preparing detailed studies and executing collaborative programs that align with both parties’ objectives.
Furthermore, it highlights the critical role of development and digital cooperation in advancing the Sustainable Development Goals (SDGs). It emphasizes the importance of supporting development initiatives, particularly in developing and least developed countries, to foster global progress and sustainable growth.
SFD
Since its founding in 1974, the SFD for Development has extended support to over 100 developing countries, financing more than 800 projects and programs across a wide range of sectors, with a total value exceeding $22 billion.
These efforts have significantly contributed to fostering sustainable development in the recipient countries, creating long-term positive impacts. By supporting key projects, the SFD has helped improve economic infrastructure, social services, and overall quality of life, thereby enhancing opportunities for both economic growth and social progress.
