Saudi Fund for Development signs $75m loan agreement for hospital project in Saint Lucia

The Saudi Fund for Development‘s (SFD) CEO Sultan Al-Marshad has signed SFD’s first development loan agreement worth $75m with the Prime Minister and Minister for Finance, Economic Development and Youth Economy of Saint Lucia Philip Joseph Pierre, to fund the reconstruction and rehabilitation of St. Jude Hospital.

This agreement is part of SFD’s efforts to support sustainable development in developing countries and small island developing states (SIDS).

Since operations began in 1975, the fund has implemented more than 700 development projects and programmes in 89 countries around the world.

The agreement marks its first presence in Saint Lucia, making it the 90^th nation to receive funds from SFD for a development project.

SFD loan to help boost healthcare access for the  community

SFD’s funding of the reconstruction and rehabilitation of St. Jude Hospital came as a much needed response after its reconstruction, following a fire in 2009, was abandoned for three years, between 2016-2019. This placed the availability of healthcare services for St. Lucia’s population at risk.

SFD’s development loan will help to provide an integrated medical facility offering secondary medical care to Saint Lucia’s population, with a capacity of approximately 100 beds.

The project will also involve renovating the hospital’s southern, eastern, and western wings, as well as its sub-buildings.

As part of this, the hospital will be equipped with state-of-the-art facilities, including a pharmacy, maternity wards, accident and emergency department, and operating rooms for surgery, among others that will help to deliver excellent healthcare services to Saint Lucia’s population. The hospital’s rehabilitation will also improve climate resistance capabilities throughout the facility, improving its durability and resilience.

In addition, the project will also contribute towards creating employment, both during construction and once the renovations are complete and the hospital is in operation. As such, the project supports realising the United Nations’ sustainable development goals.

Prime Minister Pierre, said: “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. We have been able to achieve this milestone with the support of the Saudi Arabia through the SFD, as we embrace a new era of collaboration to find sustainable solutions to tackle pressing issues. Providing access to healthcare is not merely an economic or political imperative.”

Al-Marshad, said: “Today’s agreement signifies an important step in the development cooperation between both countries. The project to reconstruct and rehabilitate St. Jude Hospital will not only help empower local communities, but also contribute towards strengthening the health sector’s capacity to cater to the requirements of Saint Lucia’s residents, and the surrounding areas.”

Saint Lucia’s Minister for Health, Wellness and Elderly Affairs Moses Baptiste, also shared his views on the essential role that St. Jude hospital plays in the country, stating: “We may have a small population, but St. Jude Hospital lies at the heart of our nation, serving approximately 50,000 people annually.”

The development cooperation reaffirms the importance of international cooperation and solidarity to achieve sustainable development goals and foster economic and social growth.