The Saudi Fund for Development (SFD) has signed a memorandum of understanding (MoU) with the Saudi Broadcasting Authority (SBA) on cooperation regarding media coverage of the Kingdom’s development projects around the world.
The agreement aims to highlight Saudi Arabia’s development efforts implemented through the SFD. Under the MoU, the two sides will hold training and introductory programs to create the opportunity for exchanging expertise as well as introductory programs for foreign media delegations.
SFD chief executive Mr. Sultan Abdulrahman Al-Marshad and SBA counterpart Mr. Mohammed Fahad Al-Harthi signed the MoU in the SFD’s headquarters in Riyadh.
Mr. Al-Harthi said that the MoU embodies the efforts of the SBA to establish cooperation with other development authorities to enhance integration and fulfill the national vision, which is inseparable from the national role played by the media.
He highlighted the programs broadcast by the SBA to present an actual picture of the Saudi contributions in states eligible for support and spotlight development projects, which Saudi Arabia stands behind until they are finalized.
Mr. Al-Marshad stated that “the MoU signed with the SBA reflects the fund’s keenness to unify efforts to shed light on the support that the Kingdom provides to development efforts in developing countries through the fund since its establishment 49 years ago.”
Established in 1974, the SFD has financed more than 800 development projects and programs in vital sectors in over 100 developing countries with a total value of over $20 billion. The support provided by the SFD contributes to social development and economic prosperity in developing states.
