About IFIs and IFFOs:
The Saudi Fund for Development (SFD) was established in 1974, the main activity started in 1975. At the time of creation, the fund’s assets amounted to 10 billion Saudi riyals, currently this figure has increased to 31 billion Saudi riyals or in eq. 8.27 billion USD.
Cooperation with the Republic of Uzbekistan:
Cooperation between the Republic of Uzbekistan and the Saudi Fund for Development (SFD) was established during a meeting of members of the Arab Coordination Group in July 2007, in the city of Tashkent. The Memorandum of Understanding signed at the end of the meeting became the basis for further development of cooperation with SFD.
Within the framework of cooperation with SFD, the project “Construction and equipping general education schools” was implemented (the amount of funding for the SFD is 16 million dollars, the OPEC fund is 5 million dollars). The loan agreement between the Republic of Uzbekistan and the SFD on financing this project was signed on November 28, 2008.