Saudi Fund for Development grants $75m loan for Saint Lucia Hospital Project

The Saudi Fund for Development (SFD), led by CEO H.E. Sultan Al-Marshad, has entered into a $75 million development loan agreement with the Prime Minister of Saint Lucia, Hon. Philip Joseph Pierre. This marks the first of its kind for SFD and aims to finance the “Reconstruction and Rehabilitation of St. Jude Hospital Project” in Saint Lucia.

Saint Lucia to Revitalize St. Jude Hospital with $75 Million SFD Loan

The generous SFD loan will be used to create an integrated medical facility in Saint Lucia, offering secondary medical care to its population. With a capacity of approximately 100 beds, the renovated St. Jude Hospital will comprise state-of-the-art facilities, elevating the standard of healthcare services available to the local community.

St. Jude Hospital Reconstruction Receives $75 Million Funding from Saudi Fund for Development. Photo courtesy of Business Wire/AETOSWire.

The Prime Minister of Saint Lucia, Philip Joseph Pierre, reflected on this significant occasion, stating: “Today, we are one step closer to making amends to the people of Saint Lucia, particularly to the people of the south of the island, by securing funding for the reconstruction of the St. Jude Hospital.”

H.E. Sultan Al-Marshad, CEO of the Saudi Fund for Development, echoed these sentiments, expressing that the agreement denotes a pivotal step in the development cooperation between Saudi Arabia and Saint Lucia. The project’s anticipated impact goes beyond local community empowerment, as it is expected to bolster the healthcare sector’s capacity to meet Saint Lucia residents’ needs.

Saint Lucia’s Minister for Health, Wellness and Elderly Affairs, Hon. Moses Jn. Baptiste, emphasized the significance of the St. Jude Hospital to the people of Saint Lucia, particularly those in the south, revealing that the hospital serves approximately 50,000 people annually.

This funding marks a new era of collaboration between the two nations and represents a significant stride towards addressing pressing healthcare issues and fostering sustainable solutions.