Saudi Fund signs 2 development loan deals to support various areas in Guyana

Saudi Fund signs 2 development loan deals to support various areas in Guyana

Saudi Fund for Development’s (SFD) CEO Mr. Sultan bin Abdulrahman Al-Marshad, has signed two development loan agreements worth $150 million with the Guyana Minister of Finance Hon. Dr. Ashni Singh in order to support the housing and transportation sectors in the Cooperative Republic of Guyana.

The deals intend to fund the “Infrastructural Development Works for the Housing Sector Project”, and the “Construction of Wismar Bridge Project”.

The development cooperation emphasizes the Kingdom’s commitment to supporting Small Island Developing States (SIDS) to overcome sustainable development and climate change challenges. Furthermore, the agreements reaffirm the importance of international cooperation and solidarity to achieve sustainable development goals and foster economic and social growth, particularly in SIDS.

Sultan Al-Marshad

CEO – SFD “The two agreements signed aim to support the housing and transportation infrastructure sectors in the country, which will lead to major benefits in health, education, and the standard of living. Both of these infrastructure projects will support access to vital services, and represent an essential drive for achieving seven United Nations Sustainable Development Goals (SDGs), particularly SDG 3, Good Health and Wellbeing, SDG 6, Clean Water and Sanitation, and SDG 11, Sustainable Cities and Communities.”

The first loan agreement, worth $100 million, is for the Infrastructural Development