SFD Signs First-Ever Development Loan Agreements with Barbados for Healthcare, Urban Infrastructure

The Saudi Fund for Development (SFD) signed two development loan agreements today with the Government of Barbados, with a total value of approximately $92.7 million, to contribute to financing development projects in the sectors of healthcare, housing, water, and infrastructure. This initiative is part of SFD’s ongoing efforts to promote sustainable development and strengthen cooperation with Small Island Developing States (SIDS).
 The agreements were signed by CEO of the Saudi Fund for Development Sultan bin Abdulrahman Al-Marshad and Prime Minister and Minister of Finance of Barbados Mia Amor Mottley, in the presence of officials from both sides.
 The first agreement includes a development loan of $58.5 million to support the Polyclinic Upgrade and Refurbishment of Primary Health Care System Project in Barbados. The project aims to enhance access to high-quality healthcare by constructing two new specialized primary care clinics and refurbishing seven existing centers. It also includes consulting services for design and implementation supervision.
 The second agreement provides a development loan of $34.2 million to finance the Urban Renewal Project in the Water, Housing, and Infrastructure Sector – Phase I. The project targets the revitalization of low- and moderate-income neighborhoods in the Bridgetown area, including infrastructure upgrades, flood protection, affordable housing solutions, and enhancements to climate resilience and renewable energy use.
 Since its inception in 1975, the Saudi Fund for Development has financed more than 800 development projects and programs worth over $22 billion, contributing to improved living conditions and fostering social and economic progress in developing countries.