ST VINCENT AND THE GRENADINES 1

Saudi Fund for Development CEO visits SVG following signing of two loans

Saudi Fund for Development CEO visits SVG following signing of two loans

ST VINCENT AND THE GRENADINES 1

As part of their visit to the Caribbean region, the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, and his accompanying delegation, visited Saint Vincent and the Grenadines, where they met with the Prime Minister of Saint Vincent and the Grenadines, Dr. Ralph E. Gonsalves. The meeting was also attended by Montgomery Daniel, Deputy Prime Minister/Minister of Transport, St. Clair Prince, Minister of Health, Curtis King, Minister of Education, and other government officials.

During the meeting, both parties discussed upcoming priorities in development cooperation, as well as progress in relation to SFD funded development projects in the country. In their discussions, they also emphasized the important role that international cooperation and solidarity play in advancing sustainable development, particularly in Small Island Developing States (SIDS).

(L to R) Prime Minister of Saint Vincent and the Grenadines, Hon. Ralph E. Gonsalves, and the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad
(L to R) Prime Minister of Saint Vincent and the Grenadines, Hon. Ralph E. Gonsalves, and the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad

On this occasion, the Prime Minister of Saint Vincent and the Grenadines, Dr Gonsalves said: “SFD has already demonstrated a remarkable solidarity with the government and people of St. Vincent and the Grenadines in our quest for sustainable development. This conclusion is evident from its soft-loan support for projects in health and the creative industries. This follow-up visit by SFD promises to enhance further support in various economic sectors and particular capital projects. All of this is a manifestation, fundamentally, of the strategic partnership between Saudi Arabia and St. Vincent and the Grenadines.

On his part, the Saudi Fund for Development Chief Executive Officer, H.E. Sultan Al-Marshad, said: “It’s a pleasure to be here in the wonderful nation of Saint Vincent and the Grenadines, two months after the signing of two loan agreements to support the nation’s healthcare and social infrastructure sectors. SFD is committed to working closely with the government of Saint Vincent and the Grenadines to make sure we remain on track to deliver these important development projects. We sincerely hope they will support the country’s development journey and bring about future prosperity for all of its people.”

This visit follows the two loan agreements signed last May, worth USD $16 million, which will help to generate socio-economic growth and development in Saint Vincent and the Grenadines. In doing so, they will also contribute towards improving the quality of life for the local population.

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