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Source: Saudi Fund for Development |

Saudi Fund for Development Laid the Foundation Stone for a Road Project in the Union of Comoros

SFD has financed four projects in Comoros through soft loans estimated at more than USD 61 million

We believe that by supporting countries to build vital infrastructure we can empower the next generation to realize their potential and lead the lives they deserve

MORONI, Comoros, March 30, 2022/APO Group/ --

SFD (www.SFD.gov.sa) road project will support the boost of trade and empower disadvantaged communities in Comoros; SFD provides soft loan of approximately USD 17 million to finance the project.

The Saudi Fund for Development (SFD) delegation laid the foundation stone for a development project in the Union of the Comoros. The project is financed by SFD through a soft loan of approximately USD 17 million and aims to rehabilitate Mutsamudu-Sima Road on Anjouan Island and contribute to the long-term growth and prosperity of the Comoros.

The rehabilitation of the 30 km road linking Mutsamudu -Sima and Bogoni- Pembini will provide underserved people and communities greater access to all-important infrastructure, resources, and opportunities. The project will further improve road safety and facilitate the seamless transport of commercial goods across the Comoros.

Eng. Bandar bin Abdullah Al-Obaid, SFD’s Director-General of Operations in the Middle East and North Africa, visited Anjoaun Island to mark the next phase of the project’s development. He was joined by a delegation of SFD representatives to lay the foundation stone for the project at a ceremonial event attended by His Excellency Mr. Omar Maghmouri, Secretary-General of the Comorian Government.   

Dr. Attallah bin Zaid Al-Zaid, the Saudi Ambassador to the Comoros, was also in attendance, together with Anees Shams, the Governor of Anjouan Island, Souef Kamalidini, Comoros’ Minister of Finance, and officials from the Comorian Ministry of Transport.

Eng. Bandar bin Abdullah Al-Obaid, SFD Director-General of MENA Operations, said: “At SFD, we are driven by an unwavering commitment to transforming the fortunes of people, communities and nations across the world. We believe that by supporting countries to build vital infrastructure — be it through the rehabilitation of roads or the construction of universities and hospitals — we can empower the next generation to realize their potential and lead the lives they deserve. We are delighted to be here with you today to do exactly that for the people and communities of Comoros, laying the foundations of a brighter, more sustainable and fulfilling future.”

He added: “A decidedly important project, this is an undertaking that will have a tremendous impact — Today, tomorrow, and many years to come — enhancing the local transport and communications sectors. On behalf of SFD, I would like to thank the Comorian Parliament President and Government for their warm welcome and continued support. By working together, we can affect lasting and meaningful change, accomplishing Comoros’ sustainable development goals.”

Underlining the significance of the Mutsamudu-Sima Road project, H.E. Mr. Omar Maghmouri, Secretary-General of the Comorian Government, praised the Kingdom’s work to advance the growth and development of various sectors across the Comoros, calling attention to the range of humanitarian initiatives and programs launched by SFD over the years.

The Secretary-General of the Comorian Government, said: “The support provided by the Kingdom of Saudi Arabia, through SFD, truly is a testament to the importance of aligned partnerships. It speaks to the power of collaboration and reminds us all of how impactful well-considered and intended support can be. We are very pleased with the launch of the Mutsamudu-Sima Road project. It is the kind of transformative initiative that will go a long way to serving so many, improving social and economic conditions in the country.”

In addition to laying the foundation stone for the Mutsamudu-Sima Road project, the SFD delegation’s visit to Comoros also included a meeting with Comoros’ Minister of Finance, Souef Kamalidini, which was held in the presence of Dr. Attallah bin Zaid Al-Zaid, Saudi Arabia’s Ambassador to Comoros. During the meeting, matters such as SFD’s development projects in Moron and Anjouan were discussed. This was followed by a tour of SFD-financed development projects launched in recent years.

Since 1981, SFD has financed four projects in Comoros through soft loans estimated at more than USD 61 million. The Kingdom of Saudi Arabia has also provided five grants estimated at over USD 83 million. These grants were provided to help develop and enhance Comoros’ transport, communications, education, health, housing and urban sectors.

Distributed by APO Group on behalf of Saudi Fund for Development.