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The Government of Barbados has signed two loan agreements worth US$92.7 million with the Saudi Fund for Development (SFD). The money will go toward two major projects:
- Polyclinic Upgrade and Primary Health Care System Project – worth US$58.5 million
- Urban Renewal Project (Phase 1) in water, housing, and infrastructure – worth US$34.2 million
The agreements were signed at Government Headquarters by Prime Minister Mia Amor Mottley and SFD CEO Sultan bin Abdulrahman Al-Marshad.
Mottley said the health loan will allow Barbados to upgrade several polyclinics and completely rebuild the Randal Phillips and Eunice Gibson clinics.
For the urban renewal project, funds will go to improving water supply, housing, and infrastructure in communities near Bridgetown. Mottley emphasized that the government aims to eliminate pit toilets and improve basic facilities for residents.
She explained that these projects will help urban areas, freeing up government funds to help rural areas in the future. She called this “responsible borrowing”, saying the loans will build the country’s capacity and make it easier to repay debt over time.
SFD CEO Al-Marshad said this marks the start of a new partnership between Barbados and Saudi Arabia, aimed at supporting sustainable development. He praised the warm welcome from the Barbadian team.
Source: Barbados GIS.
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