Saudi Fund for Development

The Saudi Fund for Development (SFD) was established in 1st September 1974 and commenced work on 1st March 1975. The main objectives of the Fund is to contribute to the financing of development projects in developing countries by granting loans to those States, providing technical assistance grants for funding studies and institutional support, and in providing financing and guaranteeing national non-oil exports. The Fund is a public institution with a legal personality and independent financial authority. 

The first loan by SFD to the Maldives was in 1978 which was for the development of Male’ International Airport. The SFD has provided assistance towards development of different sectors such as transport, health, harbors, water supply & sanitation, housing & infrastructure, and budgetary support. Additionally the fund is co-financing one of the mega projects of the country - development of the Velana International Airport. 

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