Riyadh: Saudi Fund for Development (SFD) Chief Executive Sultan Al-Marshad signed a memorandum of cooperation with Saudi Contractors Authority board chairman Mohammed Al-Ajlan on the sidelines of the Future Projects Forum in Riyadh.

According to Saudi Press Agency, the memorandum aims to expand cooperation in supporting the contracting sector within development projects and programs financed by the SFD in developing countries. It seeks to strengthen the role of Saudi companies in carrying out these projects, open channels of communication between the SFD and the authority to enable Saudi firms to benefit from key opportunities, and organize workshops for companies on the mechanisms of implementing development projects and programs.

Moreover, the memorandum contributes to advancing cooperation opportunities, partnerships, and initiatives to enhance the shared capabilities of both sides by drawing on the accumulated expertise of the SFD and the authority.