Saudi’s FD signs $150mln loan agreements to support Guyana housing, transportation

Saudi’s FD signs $150mln loan agreements to support Guyana housing, transportation

Riyadh: The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, and Guyanese Minister of Finance Dr. Ashni Singh signed today two development loan agreements with a total value of $150 million to support the housing and transportation sectors in the Cooperative Republic of Guyana.

The two loan agreements came under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and were signed in the presence of the President of the Cooperative Republic of Guyana, Dr. Mohamed Irfaan Ali.

Various other Guyanese Ministers attended the signing ceremony in addition to officials from both countries.

The signing of the two agreements comes within the framework of the efforts made by the Kingdom of Saudi Arabia, through the SFD, to support sustainable development in developing countries and small island states worldwide.

The two agreements signed today mark the beginning of the SFD’s development activity in the Cooperative Republic of Guyana, making it the eighty-eighth country to receive support and financing for development projects from the SFD. The agreements are also closely aligned with the SFD's objective of supporting the