Saint Vincent and the Grenadines have signed loan agreements worth $16 million with the SFD.
Saint Vincent and the Grenadines, a Caribbean island nation, is set to witness the establishment of a new primary care center and a cultural facility following the signing of two development loan agreements worth $16 million with the Saudi Fund for Development (SFD). These agreements are part of the Kingdom of Saudi Arabia’s commitment to supporting the development of developing countries and small island developing states globally.
The first agreement, valued at $6 million, focuses on the construction of a primary care center in South Rivers. According to the Saudi Press Agency, this facility aims to enhance the quality and resilience of the healthcare sector in the island nation while ensuring that local communities have access to essential health services. The primary care center is expected to play a significant role in addressing chronic diseases and reducing mortality rates in the region. Furthermore, it will generate employment opportunities, both directly and indirectly, and facilitate the training of medical personnel.
In addition to the primary care center, the second agreement, worth $10 million, is allocated 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. By enhancing these sectors, the initiative will contribute to the development of tourism, social and cultural growth, and public health.
Both projects align with the United Nations Sustainable Development Goals, particularly focusing on goals related to good health, well-being, decent work, and economic growth. The implementation of these initiatives will not only improve healthcare services and support local industries but also foster economic growth and social development in Saint Vincent and the Grenadines.
Expressing his enthusiasm, Prime Minister Ralph Gonsalves stated, “We look forward, through the signing of these two agreements, to opening horizons for development cooperation with the Kingdom of Saudi Arabia and strengthening close relations between the two countries.”
The loan agreements were signed by Ahmed Aqeel Al-Khateeb, Chairman of the Saudi Fund for Development, and Camillo Gonsalves, the Minister of Finance, Economic Planning, and Information Technology of Saint Vincent and the Grenadines.
The Saudi Fund for Development, established in 1974, has a long-standing history of implementing development projects and programs in various countries worldwide. With over 700 projects completed across 85 countries, the fund has played a crucial role in supporting economic and social progress globally.
The loan agreements between the Saudi Fund for Development and Saint Vincent and the Grenadines signify a significant step towards promoting sustainable development and strengthening bilateral cooperation. The establishment of the primary care center and cultural facility will not only enhance the quality of life for the island nation’s residents but also contribute to its overall socio-economic growth and well-being.
The primary focus of the first agreement, valued at $6 million, is the construction of a primary care center in South Rivers. This facility will play a crucial role in enhancing the quality and resilience of the healthcare sector in Saint Vincent and the Grenadines. With improved access to essential health services, the local population will receive comprehensive medical care, leading to a reduction in chronic diseases and improved overall well-being. Additionally, the primary care center will serve as a hub for employment opportunities, creating both direct and indirect jobs in the healthcare industry. The training of medical staff will further contribute to the development of a skilled workforce in the healthcare sector.
The second agreement, worth $10 million, is allocated 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 rich cultural heritage, traditional crafts, and agricultural products.
