(MENAFN- Saudi Press Agency) Riyadh, February 24, 2022, SPA -- The Saudi Fund for Development (SFD) signed today, in the Republic of Togo, a bilateral agreement to postpone the debts due for development projects financed by the SFD in Togo, with the Togolese Minister of Trade, Industry, and Local Consumption, in the presence of a number of officials from both sides.
This comes as a continuation and implementation of the initiative of the G20, headed by the Kingdom of Saudi Arabia, for the year 2020, regarding the postponement of debts owed by the least developed and poorest countries, and based on motivating countries to take advantage of the created financial space to increase social, health and economic spending to face the repercussions of the Corona pandemic.
The SFD delegation, during its visit to Togo, took a field tour to follow up the progress of the Sokode-Bassar Road Rehabilitation Project, which is financed by the SFD with an estimated value of $17 million.
These projects aim to reduce injuries and deaths resulting from traffic accidents. The delegation also met with a number of project officials in the Ministry of Public Works and Transport and the Ministry of Finance in Togo to discuss the project's work and stages of completion.
-- SPA
21:45 LOCAL TIME 18:45 GMT
0034
MENAFN26022022000078011016ID1103765796
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.