Riyadh: CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad and Minister of Finance of the Commonwealth of Dominica Irving McIntyre, in Riyadh today, signed a memorandum of understanding (MoU) outlining a development framework. This agreement aims to finance the infrastructure rehabilitation project in Roseau, the capital of Dominica.
Under this memorandum, the SFD will provide development support for rehabilitating seven major roads and associated essential services such as power lines, communications, water, sanitation, and garden restoration. The total investment in these endeavours amounts to $41 million to foster economic, commercial, and social growth within the Commonwealth of Dominica.
This MoU signifies a crucial part of SFD's commitment to supporting small island developing states globally. It underscores the dedication to addressing the developmental challenges these regions face. It emphasizes the significance of international collaboration and solidarity in achieving sustainable growth for a future marked by enduring development.