Major Argentina water project gets $100m Saudi funding
RIYADH, November 1, 2023
The Saudi Fund for Development (SFD) has signed a new $100 million loan agreement to support the potable water development programme in the Córdoba province of Argentina.
With this new funding, Argentina has become the 93rd beneficiary of SFD, thus signifying its commitment to sustainable development in Latin America.
These funds will help develop the Interprovincial Aqueduct Santa Fe - Córdoba Project (Phase 1, Block B-C) in Argentina.
This agreement will boost Argentina’s economy by supporting potable water development in Santa Fe and Córdoba, creating jobs, and advancing socio-economic development.
Importantly, this project also supports the realization of the UN SDGs, specifically SDG 3, Good Health and Wellbeing, and SDG 6, Clean Water and Sanitation.
Under the Phase 1 of the project, the development activities will take place from Coronda to San Francisco, providing more than 410,000 people with access to safe water and fostering development in Santa Fe and Córdoba.
The agreement weas signed by SFD Chief Executive Officer Sultan Al Marshad along with the Province Governor of Córdoba Juan Schiaretti and the Province Governor of Santa Fe Omar Perotti, at the SFD headquarters in Riyadh, Saudi Arabia.
Speaking on the occasion, Schiaretti said: "It is a great honour to sign this $100 million aqueduct agreement, benefiting Santa Fe and Córdoba, and forging the first economic development corporation between the SFD and Argentina."
Perotti pointed out that the SFD collaboration will change lives for the better, thus marking a historic step towards long-lasting development.
Al Marshad said: "Safe water, sanitation, and hygiene are essential for health and well-being. We are proud to support projects that improve access to potable water in developing countries and positively impact the lives of many."
In line with its mission to promote global sustainable development since 1975, SFD has funded more than 750 development projects worth $20 billion in over 90 countries around world.-TradeArabia News Service
