ROSEAU: The Saudi Fund for Development (SFD) has signed an agreement with the Commonwealth of Dominica to finance the $41-million Infrastructure Rehabilitation Project in Roseau, the capital city, the Saudi Press Agency (SPA) reported on Sunday.
The project is expected to promote socio-economic growth and improve the quality of life.
SFD CEO Sultan Al-Marshad and Dominican Minister of Finance Dr. Irving McIntyre signed the agreement.
The initiative entails rehabilitating seven main areas, improving road connectivity, and improving safety and access to basic services. It will also contribute residential and to commercial development, and create jobs.
The project aligns with the UN’s Sustainable Development Goals and shows SFD’s commitment to supporting development in Dominica and other Small Island Developing States (SIDS).
Al-Marshad said: “We wish Dominica continued growth and prosperity. May this project drive positive change and sustainable development.”
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Prime Minister of Dominica Roosevelt Skerrit on the occasion thanked Saudi Arabia’s support and acknowledged SFD’s role in the project. According to McIntyre, “the project is a critical step in addressing the challenges facing Roseau. It is expected to increase social and economic productivity.”
SFD, marking its 50th anniversary, has funded over 800 projects in 100 countries.
