The Saudi Fund for Development (SFD) has signed a development loan agreement with Dominica worth $41 million to finance the infrastructure rehabilitation project in the capital, Roseau. This marks the beginning of the Fund’s activity in the country and aims to support economic and social growth in Dominica. The agreement includes the construction of seven main roads, development of water drainage networks, and enhancement of basic services. Dominican Prime Minister Roosevelt Skerrit expressed his gratitude to the Saudi leadership for their support and praised the pivotal role of SFD in the project.
The signing ceremony was attended by SFD CEO Sultan Al-Marshad and Dominica’s Minister of Finance, Economic Development and Climate Sustainability Dr. Irving McIntyre. Prime Minister Skerrit thanked Saudi Arabia for their interest in bilateral relations and development support. Minister McIntyre emphasized that the project would address challenges and create opportunities within Roseau, including infrastructure for roads, communications, housing, and sanitation. The cooperation with SFD is seen as a crucial step towards achieving these goals.
Al-Marshad highlighted the significance of the agreement in supporting developing island states to overcome economic challenges. The project is expected to raise traffic safety levels, enhance urban development, and improve access to basic services in Roseau. The agreement reflects SFD’s commitment to sustainable development in developing countries and island states globally. It aligns with the Fund’s objective of supporting infrastructure projects in countries benefiting from its activities.
The agreement between SFD and Dominica is part of the Fund’s efforts to promote sustainable development in developing countries and island states. By financing infrastructure projects in Dominica, the Fund aims to support economic and social growth in the country. The construction of main roads, development of water drainage networks, and enhancement of basic services will contribute to the overall development of Roseau and the advancement of Dominica as a whole.
Prime Minister Skerrit expressed his appreciation for the support from Saudi Arabia and SFD in this important project. He acknowledged the effective partnership between the two countries and the impact it has on the progress of Dominica. Minister McIntyre outlined the activities that SFD will support in the project and emphasized the importance of addressing challenges and creating opportunities in Roseau. The cooperation between SFD and Dominica is seen as a crucial step towards achieving sustainable development goals in the country.
Overall, the agreement between SFD and Dominica represents a significant milestone in supporting economic and social growth in the country. The project aims to enhance infrastructure in Roseau, including roads, water drainage networks, and basic services. By investing in sustainable development projects, SFD is demonstrating its commitment to supporting developing countries and island states around the world. The agreement reflects the Fund’s goal of promoting infrastructure development in countries benefiting from its activities.
