Saudi Fund for Development expands operations in the Caribbean countries

Saudi Fund for Development expands operations in the Caribbean countries

Saint John's, Antigua and Barbuda: The Saudi Fund for Development (SFD) CEO, Mr. Sultan Al-Marshad, and Honorable Gaston Browne, Prime Minister of Antigua and Barbuda, signed an $80 million financing agreement for the expansion project of the University of the West Indies at Five Islands (UWI) in Antigua and Barbuda. The agreement represents a significant milestone, with Antigua and Barbuda being the 85th state to receive funding for a major development project from SFD.

To help reach the Sustainable Development Goals (SDG) in the Caribbean, the agreement will promote scientific innovation and add additional educational facilities to the university.

Honorable Gaston Browne, Prime Minister of Antigua and Barbuda, expressed his appreciation for the development efforts undertaken by the Kingdom of Saudi Arabia through the Saudi Fund for Development, which will enhance the educational sector in Antigua and Barbuda and its neighboring countries.

Aimed at making the university more sustainable, the financing agreement involves constructing seven energy-efficient buildings. The project will cover a total area of nearly 95,160 m², and serve 5,000 students annually.

The expansion project will also cater to neighboring Caribbean countries that extend from the southeast of North America and eastern Central America to the north and east of South America.

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