Monday, 06 December 2021 02:50 GMT

Saudi - SFD CEO Inaugurates US$31 Million Banjul Int'l Airport Rehabilitation Project


(MENAFN- Saudi Press Agency) Banjul, Nov. 17, 2021, SPA -- In the presence of the Vice President of the Republic of The Gambia, Isatou Touray, the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdurrahman Al-Marshad inaugurated a project to rehabilitate and develop Banjul International Airport in the Republic of The Gambia, which was financed by the Fund with a total value of (31) million U.S. dollars.
The project will contribute to raising the operational capacity of the airport by 43%, enhancing the prospects for economic exchange and its growth and improving the lives of more than two million beneficiaries.
The Gambia Vice President Isatou Touray and SFD's CEO have also laid the foundation stone for the construction of the VIP lounge at Banjul International Airport, as well as for the road project in the capital, Banjul.
During the opening ceremony, Isatou Touray praised the efforts of the Kingdom of Saudi Arabia in supporting development and infrastructure projects in African countries, citing the importance of the great role being played by the Kingdom through SFD in supporting sustainable development projects in The Gambia, in particular the project to rehabilitate and develop Banjul International Airport and road projects, which contribute to infrastructure development and economic growth.
For his part, SFD's CEO pointed to the importance of contributing to the achievement of sustainable development goals, by providing development support for projects concerned with promoting economic and social growth and improving basic infrastructure, indicating that the Saudi SFD has worked since its establishment in 1975 to provide loans development to support developing countries.
Al-Marshad stressed that these development projects are nothing but an extension of the generous support being provided by the Kingdom of Saudi Arabia to the Republic of The Gambia in various vital sectors, and this support includes (14) development loans and (5) grants with a total value estimated at about (215) million dollars.
It is worth mentioning that the Fund, through its financing march, provided support to the air transport sector around the world by financing 20 projects and development programs with a total value of $294 million, which included building landing strips, expansion of navigational services, providing engineering consultancy and rehabilitating many international airports.
A number of Ministers and officials from the Republic of The Gambia participated in the opening ceremony, in addition to a number of representatives of multilateral and development organizations.
--SPA
22:02 LOCAL TIME 19:02 GMT
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