The Saudi Fund for Development (SFD) has signed its first-ever development cooperation agreement in the Pacific region with the Government of Solomon Islands (SIG), marking a historic milestone in bilateral relations between the two nations.
At a significant signing ceremony held on Tuesday 8th at the Office of the Prime Minister and Cabinet (OPMC), SFD Chief Executive Officer, Mr. Sultan Abdulrahman Al-Marshad formalized a USD 10 million agreement with the Honourable Manasseh Sogavare, Minister of Finance and Treasury.
The agreement provides vital funding to support renewable energy development in Solomon Islands, aligning with the government’s strategic focus on sustainable and resilient infrastructure.
Prior to the signing, Mr. Al-Marshad met with Prime Minister Honourable Jeremiah Manele, MP, where he highlighted the significance of this partnership as SFD’s inaugural engagement in the Pacific. He reaffirmed the Fund’s commitment to being a trusted and strategic development partner to Solomon Islands.
“The purpose of our visit is to demonstrate our strong support and commitment to the Solomon Islands Government. The SFD remains dedicated to supporting the development priorities of Small Island Developing States,” Mr. Al-Marshad stated.
Prime Minister Manele, in response, expressed his sincere appreciation for the support and highlighted the strengthening ties between Solomon Islands, the Kingdom of Saudi Arabia, and the Saudi Fund for Development.
“This partnership marks a deepening of our relationship, and we highly value our growing ties with the Kingdom of Saudi Arabia and the SFD,” he said.
PM Manele also outlined the Government’s four key policy priorities: economic transformation, infrastructure development, national unity and stability, and human capital development. He emphasized that renewable energy is a central element of infrastructure development and a critical enabler of economic growth across the country.
This landmark agreement signals a new chapter in Solomon Islands’ development journey—anchored in sustainability, mutual cooperation, and shared aspirations for a brighter future.
Source: Government Communications Unit