RIYADH: The Saudi Fund for Development on Wednesday signed a development loan agreement worth $45 million with the Prime Minister of Belize, John Briceno, for the construction of the Tertiary Hospital in the Belmopan Area Project. The agreement, which was signed by Ahmed Al-Khateeb, chairman of SFD’s board of directors, is part of the efforts undertaken by Saudi Arabia to support sustainable development in developing countries and Small Island Developing States around the world. It comes in implementation of the directives of the King Salman and Crown Prince Mohammed bin Salman, the Saudi Press Agency reported. Since its establishment in 1974, SFD has implemented more than 700 development projects and programs in 86 countries worldwide, making Belize the 87th country to receive funding for a development project following the signing of the deal. The new 200 bed hospital will be supplied with state-of-the-art medical equipment, facilities, and integrated health services, benefitting approximately 200,000 people annually. The project aims to enhance the capacity of the local health care system by training health cadres and students from the University of Belize. In addition to helping to improve access to quality health care services, the hospital will play a crucial role in addressing chronic disease management, potentially reducing mortality rates in the region. The new hospital will also stimulate local economic growth by helping to create direct and indirect job opportunities within the health care sector, providing a platform for medical education and training and strengthening Belize’s long-term health care capacity and resilience. The project also will contribute to the UN’s Sustainable Development Goals for good health and well-being. Briceno said: “On behalf of the government and people of Belize, we are most grateful to the government and people of the Kingdom of Saudi Arabia for assisting in building a vital tertiary level/teaching hospital. The concessionary financing, through a loan by the Saudi Development Fund, makes the urgent investment in the health sector a reality.” Al-Khateeb said: “Saudi Arabia is committed to promoting sustainable socio-economic development in developing nations and Small Island Developing States, while supporting the journey to achieving the UN’s Sustainable Development Goals. “Today’s agreement signifies an important step in the development cooperation for both countries. The project to build a tertiary hospital in Belize, will not only empower local communities but also strengthen the health sector’s capacity to cater to the requirements of the capital’s residents and surrounding areas.”