June 20, 2024
EA FIntech Fair

SDF to fund USD 100 million to develop Argentina’s Potable Water Project

SFD CEO Sultan Al-Marshad (right) signs a new development agreement worth US$100 million with Argentine provincial governors Juan Schiaretti (Córdoba) and Omar Perotti (Santa Fe) (Photo: AETOSWire)
SFD CEO Sultan Al-Marshad (right) signs a new development agreement worth US$100 million with Argentine provincial governors Juan Schiaretti (Córdoba) and Omar Perotti (Santa Fe) (Photo: AETOSWire)

His Excellency Sultan Al-Marshad, CEO of the Saudi Fund for Development (SFD), recently met with His Excellency Juan Schiaretti, Governor of the Province of Cordoba, Santa Fe Province Provincial Governor His Excellency Omar Perotti signed a new development loan agreement worth US$100 million, marking the fund’s first operations in Argentina. The agreement provides financing through SFD for Argentina’s Interprovincial Aqueduct Santa Fe-Córdoba Project (Phase 1, BC Block). The signing ceremony was held at the SFD headquarters in Riyadh, Saudi Arabia.

The signing ceremony was attended by Mr. Ricardo Sosa, Minister of Public Works of the Province of Cordoba, Mr. Fabian Lopez, Minister of Public Services of the Province of Cordoba, Mr. Walter August, Minister of Economy of the Province of Santa Fe, and official representatives of both parties.

The agreement will boost Argentina’s economic development by supporting drinking water development in Santa Fe and Córdoba, creating jobs and promoting socioeconomic development.

Importantly, the project also supports the achievement of the United Nations Sustainable Development Goals, specifically Sustainable Development Goal 3 (SDG 3) “Good health and well-being” and Sustainable Development Goal 6 (SDG 6) “Clean water and sanitation”.

The first phase of the project will grow from Colonda to São Francisco, providing safe water to more than 410,000 people and spurring development in Santa Fe and Cordoba.

Taking this opportunity, His Excellency Juan Schiaretti, Governor of the Province of Córdoba, said: “It is a great honor to sign this $100 million aqueduct agreement, which will benefit Santa Fe and Córdoba and between SFD and Argentina Establishing the first economic development corporation.”

His Excellency Omar Perotti, Governor of Santa Fe Province, said: “Today, Argentina and SFD will collaborate to build a water canal that will improve the lives of local people and mark a historic step towards lasting development.”

His Excellency Sultan Al-Marshad, CEO of SFD, said: “Safe water, sanitation and hygiene are vital to health and well-being. We are proud to support projects that improve drinking water supplies in developing countries and have a positive impact on people’s lives. support.”

Argentina became the 93rd SFD beneficiary, which fully demonstrates SFD’s commitment to sustainable development in Latin America.

Since 1975, in line with its mission to promote sustainable development around the world, SFD has funded more than 750 development projects in more than 90 countries around the world, with a total value of US$20 billion.

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