The Saudi Fund for Development (SFD) has signed a new development loan agreement with the Ministry of Finance of the Republic of Tajikistan, through which SFD is contributing $20 million to fund the fifth phase of the “Constructing and Equipping of Secondary Schools” project in Tajikistan.
The agreement was signed by SFD’s Chief Executive Officer, H.E. Sultan Al-Marshad, and Minister of Finance of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, and attended by the Deputy Minister of Finance of the Republic of Tajikistan, Mr. Majidi Yusuf Khayrullo, and the Saudi Ambassador to Tajikistan, H.E. Waleed Al-Reshiadan, alongside other officials from both sides.
The signing of the loan agreement will construct and equip 19 schools across different regions of Tajikistan, to cater for the growing number of students and the rising demand for education. Once completed, it will enhance the country’s educational landscape, benefitting approximately 30,000 students.
The development agreement marks a continuation of SFD’s contributions towards developing and improving public education in Tajikistan, and aligns with its efforts to promote sustainable development in developing countries around the world. The signing brings the total contribution of the Fund towards the education sector in Tajikistan to $95 million, through which it will establish 76 public schools in total.
Additionally, it will benefit Tajikistan’s economy by creating direct and indirect jobs, both during the construction phase, and by employing teachers in the different regions where the schools will be based.
The project aligns with the United Nations’ Sustainable Development Goals (SDGs), specifically SDG 4, Quality Education, and SDG 8, Decent Work and Economic Growth. Moreover, and aims to ensure that more children across the nation have access to quality education. It represents yet another key milestone in the longstanding relationship between SFD and Tajikistan, which extends for over 20 years.
The signing ceremony followed the previous day’s participation of SFD’s CEO in the inauguration of Shahrinav School. Built during the fourth phase of the “Constructing and Equipping of Secondary Schools Project”, for which SFD had contributed $35 million, Shahrinav School will host 36 classrooms and 620 students.
The SFD is committed to supporting sustainable development in the developing countries. With decades of expertise since its establishment in 1974, it has implemented more than 700 development projects worth $18.7 billion in over 90 countries worldwide. In Tajikistan, SFD has financed 12 development projects worth over $190 million. These projects have supported many sectors, including healthcare, education, water sanitation, and road infrastructure.