(SVGSearchLight)A delegation from the Saudi Fund for Development (SFD) visited St Vincent and the Grenadines (SVG) recently as a follow up to the signing of two loan agreements and to deepen its strategic partnership with this country.
The meeting between Sultan bin Abdulrahman Al-Marshad, chief executive officer of the SFD and his delegation was hosted by Prime Minister Dr Ralph Gonsalves on August 1 at the VIP Lounge at the Argyle International Airport. Also in attendance were Minister of Health St Clair Prince, Minister of Education Curtis King, Director General of Finance and Planning Edmond Jackson, Permanent Secretary in the Prime Minister’s Office Angie Jackson-Williams, and other government officials.
The discussions centred on priorities in development cooperation and progress in relation to SFD funded development projects in SVG.
During the discussions, both delegations emphasized the important role that international cooperation and solidarity play in advancing sustainable development, particularly in Small Island Developing States (SIDS).
Prime Minister Dr Ralph Gonsalves told the media that the purpose of the visit by the SFD was to discuss “a further deepening of the practical relationship” between SVG and Saudi Arabia, “as part of building the overall strategic relationship.”
On the strengthening of relations and partnerships, Gonsalves said: “Saudi Arabia and St Vincent and the Grenadines … we have many shared experiences, and all our shared experiences must be translated into shared expressions.
“Because if we had shared experiences as countries which have come out of colonialism, fighting against hegemony and colonialism, for us to have our solidarity, we have to have not just shared experiences but shared expressions, including institutional expressions, and so we build a strategic partnership”.
The Prime Minister said the SFD has already demonstrated “a remarkable solidarity with the Government and People of St Vincent and the Grenadines in our quest for sustainable development”.
He said this is evident from its soft loan support for projects in health and the creative industries.
“This follow-up visit by SDF promises to enhance further support in various economic sectors and particular capital projects. All of this is a manifestation, fundamentally of the strategic partnership between Saudi Arabia and St Vincent and the Grenadines.”
The visit from the Saudi delegation came after Saudi Development Fund officials visited St Vincent and the Grenadines in May 2023 to sign two soft loan agreements valued at US$16 million.
The loan agreements are to provide funding to construct a primary health care centre in South Rivers worth US$6 million and a Cultural Centre of Arts in Belle Vue, along with two satellite hubs worth US$10 million.
Al-Marshad, speaking to the media said: “It’s a pleasure to be here in the wonderful nation of St Vincent and the Grenadines, two months after the signing of two loan agreements to support the nation’s healthcare and social infrastructure sectors.
“SFD is committed to working closely with the government of St Vincent and the Grenadines to make sure we remain on track to deliver these important development projects. We sincerely hope they will support the country’s development journey and bring about future prosperity for all of its people.”
“The fund was established in 1975 and aims to provide soft loans for infrastructure projects to help countries to achieve the sustainable development goals. I am very proud to be here today, and I am very happy to discuss further development relationship between the Saudi Fund and St Vincent,” Al-Marshad added.
Gonsalves reassured Sultan Al-Marshad that all legal processes have been followed. “We have moved swiftly. We have been to Parliament with those agreements, and they have been approved by Parliament.”
Meanwhile, the Prime Minister announced that has accepted an official invitation to visit the Kingdom of Saudi Arabia. He pointed out that he will undertake that visit at a time convenient to both countries. Climate change and its impact, along with the deepening of relations between the private sectors of both countries are expected to be high on the agenda of Gonsalves’s visit.
