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Saudi Fund for Development, Seychelles Sign $25 Million Development Loans

The CEO of the SFD signed two development loan agreements with Seychelles Minister of Finance, National Planning and Trade. SPA
The CEO of the SFD signed two development loan agreements with Seychelles Minister of Finance, National Planning and Trade. SPA
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Saudi Fund for Development, Seychelles Sign $25 Million Development Loans

The CEO of the SFD signed two development loan agreements with Seychelles Minister of Finance, National Planning and Trade. SPA
The CEO of the SFD signed two development loan agreements with Seychelles Minister of Finance, National Planning and Trade. SPA

CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad signed on Friday two development loan agreements with Seychelles Minister of Finance, National Planning and Trade Naadir Hassan.

Through the loans, the SFD is contributing $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project.

The first loan agreement worth $15 million will contribute to establishing residential buildings for low-income families in various regions of the country.

The second agreement worth $10 million will help provide a modern educational environment in the Seychelles.

Since its establishment in 1974, the SFD has implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion.

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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.