Saudi Fund for Development signs three loan agreements of $61 million

By Marisa Wong

Los Angeles, June 14 – The Saudi Fund for Development (SFD) board of directors chairman, H.E. Ahmed Al Khateeb, recently signed three development loan agreements worth $61 million with two small island developing states – Saint Vincent and the Grenadines and Belize, according to a press release.

The first two loan agreements, worth $16 million, were for Saint Vincent and the Grenadines for constructing a primary care center and a cultural and artistic hub and market for craft and agricultural products. The remaining loan agreement worth $45 million for Belize was for the construction of a tertiary hospital in Belmopan.

The loan agreements will contribute to raising living standards for the population, while supporting access to vital services. They also represent an essential drive for achieving the United Nations sustainable development goals (SDGs), including SDG 3, good health and wellbeing, and SDG 11, sustainable cities and communities.

Based in Riyadh, Saudi Arabia, SFD contributes to development projects by providing soft loans and prioritizes the financing of projects in developing countries.

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