The Saudi Fund for Development (SFD) has signed three development loan agreements with Serbia, totalling $205 million, to support key agriculture, education and energy projects. This marks the SFD’s first engagement in Serbia, aimed at fostering the country’s long-term socioeconomic growth.
“The agreements will also reinforce the long-term partnership between the Republic of Serbia and the Kingdom of Saudi Arabia and contribute to the implementation and development of important projects in our country,” said Deputy Prime Minister and Minister of Finance of Serbia Siniša Mali.
The agreements include $75 million for the Strengthen Irrigation Infrastructure in Different Areas Project, $65 million for the Construction of the Bio4 Campus in Belgrade Project, and $65 million for the Development of Transmission System Operator (Phase 1) Project.
Sultan Al-Marshad, CEO of the SFD, said: “Supporting sustainable development through strategic funding in infrastructure and education is central to our mission.”
As Saudi Arabia’s official development arm, the SFD has financed over 800 projects in more than 100 countries, with total funding exceeding $20 billion. In 2024, the SFD celebrated 50 years of advancing global development, with recent expansions into 11 new countries, including Serbia.
