Saudi Arabia signs $45m loan agreement to support Belize’s healthcare infrastructure
The Saudi Fund for Development recently signed a development loan agreement worth $45 million with the Prime Minister of Belize, John Briceno, for the construction of the Tertiary Hospital in the Belmopan Area Project.
The agreement, which was signed by Ahmed Al-Khateeb, chairman of SFD’s board of directors, is part of the efforts undertaken by Saudi Arabia to support sustainable development in developing countries and Small Island Developing States around the world.
It comes in the implementation of the directives of King Salman and Crown Prince Mohammed bin Salman, the Saudi Press Agency reported.
Since its establishment in 1974, SFD has implemented more than 700 development projects and programs in 86 countries worldwide, making Belize the 87th country to receive funding for a development project following the signing of the deal.
The new 200-bed hospital will be supplied with state-of-the-art medical equipment, facilities, and integrated health services, benefitting approximately 200,000 people annually. The project aims to enhance the capacity of the local healthcare system by training health cadres and students from the University of Belize.
In addition to helping to improve access to quality healthcare services, the hospital will play a crucial role in addressing chronic disease management, potentially reducing mortality rates in the region.
The new hospital will also stimulate local economic growth by helping to create direct and indirect job opportunities within the healthcare sector, providing a platform for medical education and training and strengthening Belize’s long-term healthcare capacity and resilience.