RIYADH, Saudi Arabia, CMC – The Saudi Fund for Growth (SFD) Thursday signed a separate Memorandum of Understanding (MOU) with the Caribbean Group (CARICOM) nations of St. Kitts-Nevis and St. Vincent and the Grenadines.
SFD chief government officer signed the MOU with St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves.
In response to an announcement issued right here, the US$50 million will finance the enlargement, development, and rehabilitation of a number of buildings and services affected by pure disasters.
“This funding will play an important position in restoring important infrastructure, selling sustainable improvement, and bolstering the nation’s financial resilience within the aftermath of pure disasters,” it added.
The second MOU was signed with St. Kitts=Nevis Prime Minister, Dr. Terrance Drew, totaling US$40 million to finance the enlargement of the Wants Should Energy Plant Mission.
“This monetary assist from SFD goals to contribute to the nation’s power provide and foster socio-economic improvement in St. Kitts and Nevis.”
The assertion mentioned each oUs underscore SFD’s “steadfast dedication to fostering sustainable improvement within the Caribbean area, emphasizing the importance of worldwide cooperation and solidarity in attaining the SDGs and selling social and financial progress, notably in Small Island Creating States (SIDS).
”Aligned with its mission to champion international sustainable improvement since 1975, SFD has funded over 800 improvement initiatives, totaling US$20 billion, in additional than 100 nations worldwide.
“Actively engaged in improvement initiatives inside CARICOM member states for practically 4 a long time, SFD has, within the present 12 months alone, supplied roughly US$670 million in financing for 12 improvement initiatives,” the assertion added.
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