Solomon Islands and Saudi Fund Seal Historic Renewable Energy Partnership

image from Solomon lslands Govemment Portal

In a landmark move, the Saudi Fund for Development (SFD) has signed its first development cooperation agreement in the Pacific region with the Solomon Islands Government (SIG), committing USD 10 million to support renewable energy infrastructure.

The agreement was formalized during a high-level ceremony at the Office of the Prime Minister and Cabinet (OPMC), where SFD CEO Sultan Abdulrahman Al-Marshad and Minister of Finance and Treasury, Hon. Manasseh Sogavare, signed the deal.

SFD’s financial support aligns with the Solomon Islands’ strategic focus on sustainable and resilient infrastructure, particularly under its national development agenda. Renewable energy is recognized as a crucial driver for economic growth, forming a core part of the government’s infrastructure development plans.

Ahead of the signing, Mr. Al-Marshad met with Prime Minister Hon. Jeremiah Manele to highlight the significance of this new partnership. “This marks our first initiative in the Pacific, and we’re proud to support the development goals of Small Island Developing States like Solomon Islands,” he stated.

Prime Minister Manele welcomed the partnership, describing it as a milestone in the growing relationship between Solomon Islands and the Kingdom of Saudi Arabia. He emphasized the agreement’s alignment with the country’s key policy pillars: economic transformation, infrastructure development, national unity and stability, and human capital development.

This agreement marks a new chapter in bilateral relations and reflects a shared commitment to sustainable development and long-term cooperation.