Bridgetown, Barbados – July 30, 2025

The Saudi Fund for Development (SFD) signed today two development loan agreements with the Government of Barbados, with a total value of approximately USD 92.7 million, to contribute to financing development projects in the sectors of healthcare, housing, water, and infrastructure. This initiative comes as part of SFD’s ongoing efforts to promote sustainable development and strengthen cooperation with Small Island Developing States (SIDS).

The agreements were signed by H.E. Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, and H.E. Mia Amor Mottley, Prime Minister of Barbados and Minister of Finance, in the presence of officials from both sides.

The first agreement includes a development loan of USD 58.5 million to support the Polyclinic Upgrade and Refurbishment of Primary Health Care System Project in Barbados. The project aims to enhance access to high-quality healthcare by constructing two new specialized primary care clinics and refurbishing seven existing centers. It also includes  consulting services for design and implementation supervision. 

The second agreement provides a development loan of USD 34.2 million to finance the Urban Renewal Project in the Water, Housing, and Infrastructure Sector – Phase I. The project targets the revitalization of low- and moderate-income neighborhoods in the Bridgetown area, including infrastructure, flood protection, affordable housing solutions, and enhancing climate resilience and use of renewable energy technologies.

Since its inception in 1975, the Saudi Fund for Development has financed over 800 development projects and programs worth more than USD 22 billion, contributing to improved living conditions and fostering social and economic progress in developing countries.