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Saudi Fund for Development Finances a Vital Project Serving 500,000 Citizens in Comoros

December 27, 2019 GMT
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Saudi Fund for Development Finances a Vital Project Serving 500,000 Citizens in Comoros
1 of 2
Saudi Fund for Development Finances a Vital Project Serving 500,000 Citizens in Comoros

MORONI, Comoros Islands--(BUSINESS WIRE)--Dec 27, 2019--

Mr. Azali Assoumani, President of the Union of the Comoros Islands, joined government officials and the Saudi Arabian Ambassador to the Comoros to inaugurate a new road network, 100% funded by the Saudi Fund for Development (SFD).

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Azali Assoumani, President of the Union of the Comoros Islands cuts the ribbon to inaugurate the new road network with Dr. Hamad al Hajiri, Saudi Arabia’s Ambassador to the Comoros, and Mr. Ibrahim al Turki, Advisor to Saudi Fund for Development (SFD). (Photo : AETOSWire)

The new roads will serve half a million residents as they use the new 23 km-long Airport-Qalawa Road on Grande Comore Island, as well as the 12 km Dundee-Langoni Road in Anjouan Island. The new roads will provide faster and more efficient movement of people and goods as well as better access to markets in urban centers.

Over recent years, the number of SFD-financed projects in Comoros Islands reached seven projects, estimated at more than USD 80 million. These projects serve 820.000 Comoros Islands’ citizens and support all essential sectors in the country, including the transportation, health, education and potable water sectors.

During the inauguration ceremony, the President of the Union of the Comoros Islands, Azali Assoumani praised the Kingdom’s contributions and support of the islands nation’s development plans. Saudi Arabia’s support is highlighted through SFD’s role in developing the infrastructure of the Comoros Islands. The President emphasized the positive impact of these projects in changing the country’s development landscape.

Mr. Ibrahim Al Turki, Advisor to SFD said, “The SFD and the Government of Comoros have a long history of working together. Our efforts aim to improve the quality of life for the people of the Comoros, and to ensure the development of small and medium enterprises (SMEs)’s through facilitating their access to new markets.”

The ceremony was attended by Syed Ali Sheikhan, the Minister of Finance and Budget in Comoros, the Minister of Roads and Infrastructure, Mr. Abdullah Said Sermay, the Governor of Anjouan Island, Mr. Anis Shamseddine, and Saudi Arabia’s Ambassador to the Comoros, Dr. Hamad al Hajiri.

The SFD is one of the largest contributors to sustainable development aid, promoting stability and prosperity since 1975. The SFD has financially contributed to more than 1000 international development projects through loan and grant mechanisms.

*Source: AETOSWire

View source version on businesswire.com:https://www.businesswire.com/news/home/20191227005068/en/

CONTACT: Nizar Hariz, +966558874438

nizar.hariz@ws-mena.com

KEYWORD: AFRICA COMOROS

INDUSTRY KEYWORD: URBAN PLANNING CONSTRUCTION & PROPERTY TRANSPORT OTHER TRANSPORT

SOURCE: Saudi Fund for Development

Copyright Business Wire 2019.

PUB: 12/27/2019 04:25 AM/DISC: 12/27/2019 04:25 AM

http://www.businesswire.com/news/home/20191227005068/en