Saudi Fund signs 2 loan agreements with Saint Vincent and the Grenadines

By Shilpa Annie Joseph, Official Reporter
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SFD signs 2 loan agreements
Officials during the signing ceremony.

The Saudi Fund for Development (SFD) has signed two loan agreements worth $16 million with Saint Vincent and the Grenadines to construct a primary care center in the South Rivers area and a cultural center of arts in Belle Vue.

The signing of agreements is part of the efforts undertaken by the Kingdom of Saudi Arabia, through the Saudi Fund for Development to support sustainable development in developing countries and Small Island Developing States (SIDS) around the world.

The first loan agreement for the construction of a primary care center in South Rivers, worth $6 million, will contribute to enhancing the quality of the healthcare sector, ensuring that the local population has access to healthcare services, managing chronic diseases, and potentially reducing mortality rates in the region.

Furthermore, the project will create direct and indirect job opportunities, in addition to training medical staff and helping to strengthen long-term healthcare capacity and resilience.

The second loan agreement, worth $10 million, is for the construction of a cultural artistic hub and market for craft and agricultural products in Belle Vue.

HE Ahmed Al Khateeb, Chairman of the Board of Directors of SFD, commented that this cooperation signifies the Kingdom of Saudi Arabia’s commitment to promoting sustainable socio-economic development in developing countries and SIDS and supporting the achievement of the United Nations’ Sustainable Development Goals (SDGs).

The project will promote the nation’s craft, handicraft, cultural and creative industries, making important contributions towards boosting tourism and the economy, while also supporting health and wellbeing, promoting social inclusion, and enhancing social capital.

According to the statement, the projects will contribute towards the realization of the United Nations’ Sustainable Development Goals, specifically SDG 3, Good Health and Well-being, and SDG 8, Decent Work and Economic Growth.

Speaking at the signing ceremony, the Honorable Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves, said that, “The Kingdom of Saudi Arabia is a staunch supporter of this country and a vital leader in the Middle East. St. Vincent and the Grenadines has been seeking to further boost relations for some time, building on earlier relations dating back to the governance of Sir Milton Cato.”

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