Saudi Fund for Development Signs $150 Million Loan Agreements in Guyana

Saudi Fund for Development Loan Agreements Guyana

In implementation of the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and HRH Crown Prince and Prime Minister, Mohammed bin Salman; and in the presence of H.E. President of the Co-operative Republic of Guyana, Dr. Mohamed Irfaan Ali; the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today two development loan agreements worth $150 million with the Guyana Minister of Finance Hon. Dr. Ashni Singh, to fund the “Infrastructural Development Works for the Housing Sector Project”, and the “Construction of Wismar Bridge Project”, through SFD.

The signing ceremony was attended by the Hon. Collin Croal, Minister of Housing and Water, Hon. Juan Edghill, Minister of Public Works, Hon. Deodat Indar, Minister within the Ministry of Public Works, Hon. Susan Rodrigues, Minister within the Ministry of Housing and Water, and officials from both sides.

The signing of these agreements are part of the efforts undertaken by the Kingdom of Saudi Arabia, through the SFD, to support sustainable development in developing countries and Small Island Developing States (SIDS). Since its establishment in 1974, SFD has implemented more than 700 development projects and programs in 87 countries worldwide. Therefore, the signings today mark SFD’s first presence in Guyana, making it the 88th country to receive funding from SFD for major development projects. These agreements align closely with SFD’s goal of supporting the housing, social, and transport infrastructure sectors in developing countries.