Senior Finance Minister Dr. Ashni Singh, on behalf of Government and Chief Executive Officer (CEO) of the Saudi Fund for Development Mr. Sultan A. Al Marshad Friday signed a Memorandum of Understanding (MOU) regarding the Saudi Fund’s Participation in the Financing of Development Projects in Guyana.
The projects for which the MOU was signed are infrastructural development works for the Housing Sector and Construction of the Wismar Bridge, both projects totalling US$150 Million. The MOU was signed on the sidelines of the 2023 Islamic Development Bank (IsDB) Group’s Annual Meetings currently underway in Saudi Arabia. Dr. Singh is leading Guyana’s delegation attending the meetings.
On Thursday Singh attended the Opening Ceremony of the 2023 Islamic Development Bank (IsDB) Group Annual Meetings in Jeddah, in the King Abdullah Congress Center. The theme of this year’s annual meeting is “Partnerships to Fend off Crises” and takes place between May 10-13. They comprise delegations from the Group’s 57 Member countries in addition to observers from international and regional organizations who have gathered to discuss development issues and institutional matters.
The Saudi Fund for Development finances development projects in developing countries by granting them the necessary loans, technical aids necessary for financing studies and institutional support.
