Riyadh: Saudi Fund for Development (SFD) CEO Sultan Al-Marshad and Digital Cooperation Organization (DCO) Secretary-General Deemah AlYahya have signed a memorandum of understanding (MoU) at the SFD headquarters in Riyadh. This agreement aims to enhance cooperation and support digital development initiatives in sustainable international development.

According to Saudi Press Agency, the MoU seeks to strengthen collaboration between SFD and DCO in various digital and development fields. The focus is on exchanging international expertise and knowledge, supporting the development of an inclusive digital sector, and contributing to sustainable development in multiple countries. The agreement also involves leveraging technical expertise to prepare technical studies and implement joint programs.

The partnership highlights the role of development and digital cooperation in achieving Sustainable Development Goals and supporting development initiatives in developing and least developed countries around the world.

Since its inception in 1974, the Saudi Fund for Development has extended development support to over 100 developing countries, financing more than 800 development projects and programs across various sectors. The total value of these initiatives exceeds $22 billion, contributing to sustainable development impacts in beneficiary countries and enhancing opportunities for economic and social growth.