The Saudi Fund for Development (SFD) has signed an additional loan agreement of $35 million to support the construction of the King Salman bin Abdulaziz Specialized Hospital in Zambia, bringing the total SFD funding for the project to $135 million.
The agreement was signed by SFD CEO Sultan bin Abdulrahman Al-Marshad and Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, during a ceremony attended by Saudi Ambassador to Zambia Ali Al-Qahtani, according to the Saudi Press Agency.
The hospital, which will focus on gynecology and pediatrics, is designed to include 800 medical beds across an area of over 200,000 square meters. Additionally, the facility aims to enhance specialized healthcare services, provide medical training, and elevate healthcare standards in Zambia, thereby easing financial burdens for patients.
Al-Marshad, Musokotwane, and Al-Qahtani also visited the construction site to review progress on the project.
SFD
Since its inception in 1978, the SFD has contributed over $170 million to Zambia for various development initiatives spanning essential sectors, fostering social and economic growth in the country.
Finally, the SFD’s mission is to promote sustainable economic development in the world’s least developed nations by utilizing Saudi Arabia’s resources to provide financial, technical, and human support tailored to partner countries’ needs.
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