Gov’t signs Saudi loans for housing, health

Barbados has signed two loan agreements worth US$92.7 million with the Saudi Fund for Development to help improve health care and housing across the island.

The signing took place on Wednesday at Government Headquarters.

The first loan of US$58.5 million will go toward upgrading all polyclinics and building two new ones at Randall Phillips in Oistins and Eunice Gibson in Warrens.

The second loan of US$34.2 million will support urban renewal projects, including better access to water, housing, and other infrastructure.

It will also help the government’s efforts to eliminate pit toilets in urban areas.

Describing the signing as a “very important moment” for the country, Prime Minister Mia Mottley said, “The Government of Barbados is in a position to be able to bring credible and ready assistance to two key sectors.

“Also addressing the brief signing event, CEO of the Saudi Fund for Development, Sultan Al-Marshad, called the partnership “a key milestone in building a lasting partnership for sustainable development.”