SFD Boosts Development in Kosovo, Supports Transportation Sector with $14 Million

Saudi Fund for Development (SFD) Chief Executive Sultan bin Abdulrahman Al-Marshad today signed an additional $14.13 million development soft loan agreement with Kosovar Minister of Finance, Labor and Transfers Hekuran Murati. The funding is to support the Pristina-Mitrovica highway project. Kosovar Minister of Environment, Planning and Infrastructure Liburn Aliu and the Kingdom's non-resident ambassador to Kosovo, Faisal bin Ghazi Hifzi, attended the signing ceremony. The agreement extends a project that was initially funded by SFD in 2013. It is aimed at contributing to the development and rehabilitation of the highway, including enhancing drainage services and expanding the road to cover a distance of 27 km. The main objectives are to improve safety, reduce accidents, and facilitate traffic flow. The highway is expected to accommodate up to 27,000 vehicles per day. The project will promote social and economic growth between regions, create job opportunities, and significantly contribute to sustainable d evelopment goals such as sustainable cities and local communities, instilling optimism about its long-term benefits. The agreement reflects SFD's commitment to supporting the growth of vital opportunities in developing countries worldwide and emphasizes the importance of international cooperation and solidarity to achieve sustainable development goals. Since its establishment in 1975, SFD has funded over 800 development projects and programs, totaling more than $20 billion across more than 100 developing countries. The projects have covered a wide range of sectors, directly impacting communities. Source: Saudi Press Agency