Saudi Fund for Development Signs $103 Million Loan Agreement with Nicaragua
Nicaragua, The Gulf Observer: Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), has signed a landmark concessional development loan agreement worth $103 million with Bruno Gallardo, Nicaragua’s Vice Minister of Finance and Public Credit. The signing ceremony took place in Nicaragua, marking the first such loan agreement between the two parties.
The loan, provided by the SFD, is designated for the construction and equipping of a regional hospital in Las Minas. This initiative aims to enhance the healthcare infrastructure and services in the region, significantly benefiting the local population.
The agreement signing was attended by several high-profile officials, including Nicaraguan Minister of Finance and Public Credit Ivan Acosta, Nicaraguan Minister of Health Dr. Martha Reyes, and Deputy Chief of Mission at the Saudi Embassy in Mexico, Sultan Al-Muzaini.
In a statement, Al-Marshad emphasized the importance of this development, highlighting the commitment of the Saudi Fund for Development to support critical infrastructure projects that promote health and well-being in partner countries. He noted that the project aligns with the broader goals of fostering sustainable development and improving living standards in Nicaragua.
Gallardo expressed his gratitude for the generous support from the SFD, acknowledging the positive impact the new hospital will have on the Las Minas community. He reiterated Nicaragua’s commitment to strengthening its healthcare system and enhancing public health outcomes.
The regional hospital project in Las Minas represents a significant step forward in the collaboration between Saudi Arabia and Nicaragua, reflecting a shared vision of progress and mutual development.
