The Saudi Fund for Development has entered into a new loan agreement with the government of Gambia to support the completion of the Greater Banjul Area Roads Project. This latest financing installment raises the total contribution from the Saudi fund for the project to $60 million.
The agreement was signed by Sultan Al-Marshad, CEO of the Saudi Fund for Development, and Seedy Keita, Gambia’s Minister of Finance and Economic Affairs. The signing took place during Al-Marshad’s official visit to the country.
During his visit, Al-Marshad was received by Gambian President Adama Barrow. The meeting focused on reviewing the progress of projects and programs financed by the Saudi fund in Gambia. Both sides also discussed potential avenues for expanding development cooperation between Saudi Arabia and Gambia.
The Greater Banjul Area Roads Project aims to improve transportation infrastructure in and around the capital city, enhancing connectivity and supporting socio-economic development. The ongoing partnership underscores Saudi Arabia’s commitment to contributing to the development efforts of African nations through infrastructure investments.