By Elias Al Helou
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Saudi fund to finance $41-million infrastructure rehabilitation project in Dominica

This initiative aims to boost socio-economic growth and improve residents' quality of life 
Saudi fund to finance $41-million infrastructure rehabilitation project in Dominica
The project includes the rehabilitation of seven primary streets, aimed at enhancing road connectivity, safety, and access to essential services. (Photo Credit: SFD)

The Saudi Fund for Development (SFD) has officially entered into a loan agreement with the Commonwealth of Dominica to support the $41-million Infrastructure Rehabilitation Project in Roseau, the nation’s capital. This initiative is anticipated to foster socio-economic growth and enhance the overall quality of life for residents.

The agreement was finalized by SFD CEO Sultan Al-Marshad and Dr. Irving McIntyre, Dominican minister of Finance. Prime Minister Roosevelt Skerrit of Dominica also addressed attendees at the signing ceremony.

Read more: Saudi fund deploys $20 billion globally in 50 years

The project includes the rehabilitation of seven primary streets, aimed at enhancing road connectivity, safety, and access to essential services. Additionally, it will stimulate both commercial and residential development while creating job opportunities.

This initiative further aligns with the United Nations’ Sustainable Development Goals and underscores SFD’s dedication to advancing development in Dominica and other Small Island Developing States (SIDS).

Al-Marshad expressed hope for Dominica’s ongoing growth and prosperity, emphasizing the potential of the project to bring about positive change and sustainable development. Prime Minister Skerrit conveyed his appreciation for Saudi Arabia’s support and recognized the significant role of the SFD in the initiative. McIntyre remarked that the project represents a crucial step in tackling the challenges faced by Roseau, with expectations of boosting social and economic productivity. 

As it marks its 50th anniversary, the SFD has supported over 800 projects in 100 countries and has provided development loans to 10 new Small Island Developing States since 2023.

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