RIYADH: The Saudi Fund for Development (SFD) has entered into two loan agreements worth $16 million with Saint Vincent and the Grenadines, aimed at supporting the development of the Caribbean island nation. The agreements were signed as part of the Kingdom’s commitment to advancing developing countries and small island developing states globally.
Under the first agreement, a primary care center will be constructed in South Rivers at a cost of $6 million. The center aims to enhance the quality and resilience of the healthcare sector in Saint Vincent and the Grenadines, ensuring local communities have access to essential healthcare services. Additionally, the center is expected to contribute to the reduction of chronic diseases and mortality rates in the region. The project will also create employment opportunities, both directly and indirectly, and provide training for medical personnel.
The second agreement, valued at $10 million, will be utilized for the construction of a cultural center and a market for craft and agricultural products in Belle Vue. This project aims to promote the country’s craft, handicraft, cultural, and creative industries. Furthermore, it is expected to significantly boost tourism, social and cultural growth, and public health in the region.
Saudi Fund for Development Loan Projects Align with UN SDGs
Both projects align with the United Nations Sustainable Development Goals, particularly those related to good health, well-being, decent work, and economic growth. The initiatives aim to contribute to the overall development and progress of Saint Vincent and the Grenadines.
Prime Minister of Saint Vincent and the Grenadines, Ralph Gonsalves, expressed his anticipation for enhanced development cooperation between the Kingdom of Saudi Arabia (KSA) and his nation through the signing of these agreements. The Prime Minister highlighted the importance of strengthening the close relations between the two countries.
The loan agreements were signed by SFD Chairman Ahmed Aqeel Al-Khateeb and Camillo Gonsalves, the Minister of Finance, Economic Planning, and Information Technology of Saint Vincent and the Grenadines.
Established in 1974, the Saudi Fund for Development has successfully implemented more than 700 projects and development programs in 85 countries worldwide. The fund continues to play a crucial role in supporting various sectors and driving sustainable development globally.
