Saudi Fund for Development (SFD) has signed a two hundred and forty million dollar loan agreement with Pakistan to support Mohmand Multipurpose Dam project.
The agreement was signed by Chief Executive Officer of Saudi Fund for Development Sultan Abdulrehman Al-Marshad and Federal Secretary for Ministry of Economic Affairs Dr Kazim Niaz in Islamabad.
The loan represents a strong partnership between Pakistan and Saudi Arabia in promoting sustainable development and achieving the Sustainable Development Goals.
Mohmand Multipurpose Dam project will enhance water and food security and improve the standard of living of people living in Khyber Pakhtunkhwa. It will help generate eight hundred megawatts of electricity and enable irrigation of 6773 hectares of new land.
Speaking on the occasion, the CEO of Saudi Fund for Development emphasized the strong developmental ties between Pakistan and Saudi Arabia.
The Federal Secretary recognized the significant contribution made by the Kingdom of Saudi Arabia towards financing the vital project.
