Aug 26, 2022
Saudi Fund for Development Signs Agreement to Finance Hospital Project in Cameroon — African Business
Saudi Fund for Development Signs Agreement to Finance Hospital Project in Cameroon — African Business
Today, the Saudi Fund for Development is (SFD)www.SFD.gov.sa) The Cameroonian Government and SFD signed an agreement to finance the construction Mbalmayo Regional Hospital Project. A soft development loan of USD 12 million was also provided. SFD CEO, Sultan bin Abdulrahman Al Marshad, and Alamine Ousmane Mey, Cameroonian Ministry of Economy, Planning and Regional Development, signed this agreement.
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The financing agreement will be used to construct and equip the hospital with 200 medical beds. It will also develop specialized medical departments, centers and buildings covering a total area 14,000 m2. The project will also include an area of 8,500 m2 for operational services. The hospital will be fully furnished with all the necessary amenities, including electricity, water and sewage. The development plan also includes rehabilitation of the road linking the hospital to national roads to make it easy to access. The project will also include a landing pad for helicopters in case of medical emergencies.
It is expected that the project will provide healthcare services to thousands of people in Cameroon’s capital and nearby cities and villages. It will reduce mortality rates and help to combat chronic diseases. The hospital will also alleviate overcrowding in Yaoundé and Douala hospitals.
The signing ceremony was attended by Mr. Abdulrahman Alzaben, Chargé d’Affaires at the Embassy of the Kingdom of Saudi Arabia to the Republic of Cameroon, and several officials from both nations.
In his speech, SFD’s CEO Al Marshad affirmed that the project will be co-financed by SFD, the Kuwait Fund for Arab Economic Development, and the Arab Bank for Economic Development in Africa (BADEA), with a total value of USD 38.8 million. Al Marshad emphasized that the project is vital and will contribute to the socio-economic development of the Cameroonian population. The project will provide support for basic infrastructure services that will enable society members access all their daily needs in order to improve their socio-economic living conditions.
Al Marshad expressed his appreciation for the efforts exerted by both nations for more than 40 years to achieve the UN’s Sustainable Development Goals (SDGs). The project, he emphasized, is of great importance to safeguarding Cameroon’s future and ensuring the development of its burgeoning and thriving sectors.
Minister Mey expressed appreciation for the role of the Kingdom of Saudi Arabia through SFD in supporting development projects and improving Cameroon’s health sector. He also stressed the importance of the long-standing relationship with the Fund. The Minister highlighted that the Mbalmayo Regional Hospital Project will be vital for people and communities in Cameroon. It will offer greater access and quality care as well as modern, specialized medical centers.
The Government of Saudi Arabia recognizes the importance of supporting Cameroon’s development sectors through SFD-funded programs and projects.
Since 1977, SFD has provided — in addition to this agreement — development loans to finance nine (9) projects in Cameroon amounting to USD 109 million to enhance the growth and prosperity of the infrastructure, water, transportation, education, and health sector to help achieve the UN’s Sustainable Development Goals (SDGs).
Distributed by APO Group for Saudi Fund for Development
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Source: african.business
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