Saudi fund signs 30-mln-USD loan deal with Uganda-Xinhua

Saudi fund signs 30-mln-USD loan deal with Uganda

Source: Xinhua

Editor: huaxia

2023-09-07 04:00:45

RIYADH, Sept. 6 (Xinhua) -- Saudi Fund for Development (SFD) on Wednesday signed a development loan agreement worth 30 million U.S. dollars with Uganda to finance the African country's Heart Institute project, the Saudi Press agency reported.

The deal was inked between the CEO of the SFD Sultan Abdulrahman Al-Marshad and Ugandan Minister of Finance, Planning and Economic Development Matia Kasaija in Uganda's capital Kampala. Ugandan Minister of Health Ruth Aceng and several other officials attended the signing ceremony, according to the report.

The agreement aims to bolster Uganda's healthcare sector and provide support for its third five-year National Development Plan spanning from the fiscal year 2020/21 to 2024/2025, which stipulates the country's medium-term strategic direction, development priorities, and implementation strategies, with a goal of enhancing productivity and social well-being, the report added.

The Heart Institute project is initiated in line with the plan, encompassing establishing medical facilities, introducing cutting-edge medical and technical equipment, holding medical training, and expanding the capacity of cardiac disease prevention and treatment.

The project is expected to benefit more than 62,400 individuals, create job opportunities within the medical sector, and boost the local economy.