SFD signs first development loan of $103 million to build hospital in Nicaragua

Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, signed the first concessional development loan agreement of $103 million with Bruno Gallardo, Nicaragua’s vice minister of finance and public credit, in Nicaragua.

The loan provided by the fund will be used to finance the construction and equipping of the regional hospital in Las Minas, the Saudi Press Agency reported.

The agreement was signed in the presence of the Nicaraguan Minister of Finance and Public Credit Ivan Acosta, the Nicaraguan Minister of Health Dr. Martha Reyes, and deputy chief of mission at the Saudi Embassy in Mexico, Sultan Al-Muzaini.