The Saudi Fund for Development (SFD) has inaugurated two new development projects in the water and housing sector and also laid the foundation stone for a project in the transportation sector being set up at a total investment of $137 million. 

 

The projects were launched by Saudi Fund for Development CEO Sultan bin Abdulrahman Al Marshad along with the President of Djibouti Ismail Omar Guelleh in the presence of other senior officials.

 

Al Marshad also inaugurated the construction of the 120-unit residential project in the presece of Amina Abdi Aden, Minister of Cities, Urban Planning and Housing. The project is being funded with a grant of $7 million from the Saudi government, provided through the SFD.

 

Funded with a grant of $10 million provided by Saudi Arabia through the SFD, it will involve the construction of 105km of water pipes and eight water tanks to pump clean water from the Bissidiro region. 

 

Al Marshad and Guelleh also laid a foundation stone to upgrade 60km of the Djibouti-Galafi arterial road, which was originally funded by Saudi Arabia through the SFD, with $120 million grant. 

 

The road will provide a vital economic and trading link with its neighbour countries.