Nicaragua – June 7, 2024:

The CEO of the Saudi Fund for Development, Mr. Sultan bin Abdulrahman Al-Marshad, signed the first development loan agreement with Nicaragua’s Vice Minister of Finance and Public Credit, H.E. Bruno Gallardo Palaviccine. The agreement, amounting to $103 million, will fund the Construction and Equipment of Carlos Centeno Departmental Hospital of Las Minas Project. The signing ceremony was attended by Nicaragua’s Minister of Finance and Public Credit H.E. Iván Acosta, Minister of Health, Dr. Martha Reyes, Deputy ambassador of Saudi Arabia to Mexico, Mr. Sultan Al-Muzaini, and along with other officials.

The project will construct a 25,000 square meter hospital with a capacity of 300 beds, serving the surrounding regions. The hospital will include specialized clinics for surgery, comprehensive child immunization, training and qualification of medical personnel, emergency departments, and a full range of integrated healthcare services.

This agreement reflects the SFD's commitment to supporting vital opportunities for growth in developing countries around the world. The SFD is proud to support Nicaragua in overcoming economic and developmental challenges and reaffirms the importance of international cooperation and solidarity in achieving sustainable development goals.

Since its inception in 1975, the SFD has contributed to creating diverse development opportunities, fostering social and economic growth in developing countries. Over the past 49 years, the SFD has financed more than 800 development projects and programs worth over $20 billion in over 100 developing countries, encompassing various vital sectors that directly impact communities.