Indonesia, April 7 -- Ngerulmud, Palau--(ANTARA/Business Wire)--The Saudi Fund for Development (SFD) today signed a USD 15 million development loan agreement with the Republic of Palau, marking the Fund's first-ever development partnership in the Pacific island nation.

The agreement was signed by H.E. Sultan Abdulrahman Al-Marshad, Chief Executive Officer of SFD, and H.E. Surangel S. Whipps Jr., President of the Republic of Palau during a ceremony in Palau's capital, Ngerulmud.

The USD 15 million development loan will be channeled through the National Development Bank of Palau. Designed to empower the local economy, the financing will support projects spearheaded by Palauan developers, businesses, and entrepreneurs. By aligning with Pal...