Saudi: SFD signs loan agreement worth $77mln to establish a solar power plant in Belize

Saudi: SFD signs loan agreement worth $77mln to establish a solar power plant in Belize

BELIZE — The Saudi Fund for Development (SFD) has signed a development loan agreement worth $77 million to fund a project to establish a solar power plant in Belize.

The agreement was signed by SFD’s CEO Sultan Bin Abdulrahman Al-Murshed and Johnny Briceño, prime minister of Belize, in the presence of several officials.

This comes within the framework of the efforts made by SFD in supporting the sustainable development in the developing countries and Small Island Developing States (SIDS) around the world.

SFD has conducted, since the start of its activities in 1975, more than 700 projects and developing programs in 90 countries around the world.

The latest signed agreement will enhance the developing activity of SFD in Belize, making it the second agreement funded by SFD during the start of its development relationship with Belize in 2023.

The agreement also comes in pace with SFD’s goal that is represented by supporting the clean energy sector in the developing countries.

The project aims to build a solar power plant with a capacity of 60 megawatts, with the supply and equipment of solar panels, to reduce emissions in the energy sector, equivalent to 60,000 tons of carbon dioxide annually through system efficiency and consumption.

It will also provide