Saudi Fund for Development, UK Join Forces to Advance Global Development

The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed in Riyadh on Monday a joint cooperation arrangement (JCA) to advance development and address policy issues of mutual concern. (SPA)
The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed in Riyadh on Monday a joint cooperation arrangement (JCA) to advance development and address policy issues of mutual concern. (SPA)
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Saudi Fund for Development, UK Join Forces to Advance Global Development

The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed in Riyadh on Monday a joint cooperation arrangement (JCA) to advance development and address policy issues of mutual concern. (SPA)
The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed in Riyadh on Monday a joint cooperation arrangement (JCA) to advance development and address policy issues of mutual concern. (SPA)

The Saudi Fund for Development (SFD) and UK’s Foreign, Commonwealth and Development Office (FCDO) signed in Riyadh on Monday a joint cooperation arrangement (JCA) to advance development and address policy issues of mutual concern.

The two parties will also focus on effectively delivering the international development agenda of their respective organizations, while strengthening their capacities to better respond to overseas development needs.

The goals and objectives outlined in JCA include providing support for the world’s poorest and most vulnerable people through improved donor coordination, enhanced transparency and aid accountability, and effective monitoring and evaluation.

Attending the signing ceremony, which took place on the sidelines of the second strategic dialogue on humanitarian assistance and international development at the King Salman Humanitarian Aid and Relief Center (KSrelief) headquarters, were KSrelief Supervisor General Dr. Abdullah Al Rabeeah, UK’s Deputy Foreign Secretary and Minister of State Rt Hon. Andrew Mitchell MP, and SFD CEO Sultan bin Abdulrahman Al-Marshad.

Mitchell said: “It is vitally important that we get the Sustainable Development Goals back on track by 2030; our collective commitment has waned in recent years, the time is now to turn the tide on this. Our partnership, and shared resolve, with our friends in Saudi Arabia is a welcome step that we must keep momentum on.”

Al-Marshad said: “We are pleased to embark on this JCA with the UK’s Foreign, Commonwealth and Development Office. This partnership is a strong reflection of our mutual dedication to strengthen the global development system.”

“We are hopeful that this partnership will help improve the lives of millions of people around the world and enhance the quality of life for those who most need it,” he added.

Since 1975, SFD has financed over 800 development projects and programs, worth over $20 billion, in over 100 developing countries. The programs and projects covered sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining.

The fund has played a key role in helping to improve living standards, advance socio-economic development, and provide employment opportunities for millions of beneficiaries around the world.



Australian Deputy PM Stresses Importance of Partnership with Saudi Arabia

Australian Deputy Prime Minister and Minister for Defense Richard Marles attends the annual Australia-UK Ministerial Consultations (AUKMIN) meeting at Lancaster House in London, Britain, 16 December 2024. EPA
Australian Deputy Prime Minister and Minister for Defense Richard Marles attends the annual Australia-UK Ministerial Consultations (AUKMIN) meeting at Lancaster House in London, Britain, 16 December 2024. EPA
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Australian Deputy PM Stresses Importance of Partnership with Saudi Arabia

Australian Deputy Prime Minister and Minister for Defense Richard Marles attends the annual Australia-UK Ministerial Consultations (AUKMIN) meeting at Lancaster House in London, Britain, 16 December 2024. EPA
Australian Deputy Prime Minister and Minister for Defense Richard Marles attends the annual Australia-UK Ministerial Consultations (AUKMIN) meeting at Lancaster House in London, Britain, 16 December 2024. EPA

Australian Deputy Prime Minister and Minister for Defense Richard Marles stressed the strong relations between Saudi Arabia and Australia, noting that the Kingdom stands as Australia's second-largest trading partner in the Middle East.

In a statement issued by his office, Marles indicated that his visit to the Kingdom and the UAE seeks to enhance collaborative efforts within the G20 and other multilateral institutions and aims to emphasize the unwavering commitment to a rules-based international order.

The statement further emphasized that the Kingdom is a crucial partner for Australia and that the visit presents an opportunity to broaden economic ties and explore avenues for deeper cooperation with regional leaders.

Marles said that this visit underscores Australia's commitment to fortifying economic and diplomatic ties with the Kingdom, recognizing its crucial role as a partner in addressing shared global challenges.

Marles met with Saudi Minister of Defense Prince Khalid bin Salman bin Abdulaziz in Riyadh on Wednesday.