PM Gonsalves outlines the allocation of the Saudi Fund for Development

The content originally appeared on: NBC SVG

Last week, the government of St Vincent and the Grenadines signed a memorandum of understanding with the Saudi Fund for Development for an additional 50 million dollars.

Speaking on radio yesterday, Prime Minister Dr Ralph Gonsalves outlined that the money would be put towards several infrastructure projects around that island.

The Prime Minister explained that the most substantive part of the fund would be out towards the housing.


Additionally there would be work to upgrade health facilities and community building facilities.

In May, the Government received a $16 million USD loan from the Kingdom of Saudi Arabia which was allocated to two major development projects.

Photo credit: NBC’s Colvin Harry