Saudi Fund for Development Marks the Completion of the $31 million Banjul International Airport Project in The Gambia
The Saudi Fund for Development (SFD) recently took part in an official inauguration ceremony to mark the completion of the Banjul International Airport Rehabilitation and Development Project in The Republic of The Gambia.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211118005743/en/
The Gambia Vice President and the CEO of the Saudi Fund for Development lay the foundation stone for the new airport’s VVIP lounge (Photo: AETOSWire)
The SFD supplied a loan worth $31 million to fund the project which will increase the airport’s operational capacity by 43%, enhancing trade and supporting economic growth.
In addition, the SFD has provided a further US$10.5 million loan to build a VVIP airport lounge which will provide facilities to host official delegations and international conferences. The foundation stone for the new VVIP lounge was laid during the official inauguration ceremony by the Gambia Vice President Dr Isatou Touray and the CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Marshad.
The Gambia Vice President Dr Isatou Touray thanked the Kingdom of Saudi Arabia through the SFD for its commitment to sustainable infrastructure projects, including the development and expansion of Banjul International Airport, which will increase the living standards of two million people.
Sultan bin Abdul Rahman Al-Marshad said, “This is an important milestone in the growth and prosperity of The Gambia. The development of Banjul International Airport is an extension of the ongoing support provided by the Kingdom of Saudi Arabia to the Republic of The Gambia, which includes 14 development loans and five grants with a total value of US $215 million across transport, education, water, and economic development.
“This scheme is just one of over 20 projects the SFD has supported in the air transport sector around the world at a value of US$294 million, including the construction of runways, provision of engineering consultancy, and expansion of navigational services, aimed at stimulating sustainable economic and social growth.”
During his visit to The Gambia, the CEO of SFD will also lay a foundation stone for a major infrastructure project in the country’s capital, Banjul. The result of a financing agreement between SFD and the Government of The Gambia, the new roads project will have a budget of US$50 million. Covering over 50km, it will aim to reduce traffic congestion across the city.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005743/en/
Contact information
Randah Al-Hothali, 00966 11 2794448
ralhothali@sfd.gov.sa
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant International’s WorldFirst launches Enterprise Solution to Power Enterprises Global Growth25.11.2025 05:59:00 EET | Press release
WorldFirst, Ant International’s global account service provider, has launched an API-integrated and AI-driven solution tailored to global enterprises It leverages WorldFirst's unified global account, full-range financial services, and AI capabilities such as smarter treasury management to help streamline global funds distribution, unlock new revenue streams, and strengthen customer relationships. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251124796928/en/ WorldFirst CEO Clara Shi unveiled the new enterprise solution at Ant International’s Global Voyage Event in Singapore McKinsey research predicts that within six years, digital platforms will facilitate over 30%—about $60 trillion—of global economic activity. Yet as enterprises operate digitally and expand globally, they face critical financial obstacles: inefficient payments, high costs, compliance complexity, and fragmented customer experience—all creating friction tha
Original “Titanic Cherub” From James Cameron’s Epic Film Heads to Auction December 9 & 1024.11.2025 22:48:00 EET | Press release
One of the most recognizable and beloved set pieces from James Cameron’s Titanic heads to auction on December 9 &10 —the original Grand Staircase Cherub, seen in multiple scenes of the 1997 blockbuster, including the pivotal moment when Jack and Rose meet in front of the First Class Dining Room and the climactic moment when the Atlantic Ocean bursts through the skylight and floods the staircase, and cherub. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251124056883/en/ The iconic “cherub” with Leonardo DiCaprio & Kate Winslet in James Cameron’s “TITANIC”. The ornate fixture—crafted for the full-scale recreation of Titanic’s Grand Staircase—was gifted by the production to Martin Biallas, CEO of SEE Global Entertainment, whose immersive exhibitions have brought the world’s most famous ship to millions of fans. It now resurfaces as a rare offering in Heritage Auctions’ Entertainment & Music Memorabilia Signature Auction (Sale
Access Advance Announces Major Growth in Its HEVC and VVC Patent Pools24.11.2025 17:10:00 EET | Press release
Access Advance LLC today announced significant expansions of both its HEVC Advance and VVC Advance Patent Pools during the second and third quarters of 2025, underscoring continued industry confidence in the company's balanced and transparent approach to video codec licensing. This growth follows the successful January 2025 launch of Access Advance's Video Distribution Patent ("VDP") Pool, demonstrating the company's expanding role in comprehensive video codec patent licensing solutions. Among the many highlights, Sharp Corporation joined the HEVC Advance Patent Pool as a Licensor, bringing valuable intellectual property assets to the pool's already extensive patent portfolio. Additionally, Huawei Technologies Co., Ltd., already an HEVC Advance Licensor and Licensee, expanded its collaboration with Access Advance by joining the VVC Advance Patent Pool as a Licensee. HP Inc. also expanded its license to include the VVC Advance Patent Pool after previously joining HEVC Advance in 2024, w
Andersen Global Strengthens Platform in Turkey with Addition of Member Firm24.11.2025 16:30:00 EET | Press release
Andersen Global enhances its presence in Turkey as Celen Corporate Property Valuation & Counseling Inc. becomes Andersen in Turkey, adding breadth to the capabilities provided under the Andersen brand in the country. Founded in 1995 and led by Managing Partner Guniz Celen, the Istanbul-based firm delivers a broad spectrum of services for domestic and international clients. With expertise in real estate corporate finance, tangible and intangible asset valuation, and asset management, Andersen in Turkey delivers solutions that support complex corporate finance decisions to clients in more than 18 countries. “Our mission has always been to provide solutions to the most complex challenges in the real estate and investment sectors,” said Guniz. “Joining the Andersen brand strengthens our capabilities as a trusted advisor and gives us access to global resources, enabling us to create even greater long-term value for our clients.” Global Chairman and CEO of Andersen Mark L. Vorsatz added, “Ce
Microsize and Schedio Group to Acquire Lonza’s Micro-Macinazione Site in Switzerland24.11.2025 16:05:00 EET | Press release
Microsize, a leading CDMO specializing in particle size reduction and control technologies, today announced it has signed an agreement to acquire Micro-Macinazione (Mic Mac), a dedicated micronization facility in Monteggio, Switzerland, from Lonza. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251124545344/en/ The agreement represents Microsize’s second acquisition from Lonza, following the successful 2022 divestment of its Quakertown, Pennsylvania site. In this transaction, Schedio Group – a Swiss-based provider of jet mills, isolators, spray dryers, and engineering services – is investing alongside Microsize to strengthen and localize its operational base in Europe, advancing a shared vision to lead the next generation of integrated particle engineering solutions. With more than 30 years of experience, Mic Mac has served the pharmaceutical industry with proven GMP-compliant jet milling and micronization capabilities for b
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom