Saudi Fund for Development signs agreement to finance a health project in Cameroon

RIYADH: The Saudi Fund for Development signed an agreement with the Cameroonian government to finance the construction of the Mbalmayo Regional Hospital Project, by providing a $12 million soft development loan.
The agreement was signed by SFD CEO Sultan Al-Marshad, and the Cameroonian Minister of Economy, Planning, and Regional Development, Alamine Ousmane Mey.
The agreement will help to build and equip the hospital with 200 beds and develop specialized medical departments, centers, and buildings spanning a total area of 14,000 square meters.
The project will also include an area for operational services covering up to 8,500 square meters.
The development plan also comprises rehabilitating the roads that connect the hospital to the main roads to ensure easy access.
The project is expected to serve thousands of people from the Cameroonian capital as well as neighboring cities and villages, providing access to quality health care services. It will help tackle chronic disease and reduce mortality rates. The hospital will also alleviate overcrowding in Yaounde and Douala hospitals.
The signing ceremony was attended by Dr. Manaouda Malachie, Cameroonian minister of public health, Abdulrahman Alzebn, Chargé d’Affaires at the Embassy of the Kingdom of Saudi Arabia to the Republic of Cameroon, and several officials from both nations.
Al-Marshad said 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, with a total value of $38.8 million.
He reiterated that the project is a vital undertaking that will positively contribute to the social development of the Cameroonian people and will provide the necessary support for basic infrastructure services, enabling society members to access all their daily needs to improve their social and economic living conditions.
Al-Marshad expressed his appreciation for the efforts exerted by both nations to achieve the UN’s Sustainable Development Goals. He said the project is of great importance to safeguarding Cameroon’s future and ensuring the development of its burgeoning and thriving sectors.
Mey praised the important role played by Saudi Arabia, through SFD, in supporting development projects and improving the health sector in Cameroon. The minister further underlined that the Mbalmayo Regional Hospital project will be essential to people and communities across Cameroon, offering greater access to quality care and modern, specialized medical centers.
The Kingdom realizes the importance of supporting the development sectors in Cameroon through SFD-funded development projects and programs, SPA said,
Since 1977, SFD has provided — in addition to this agreement — development loans to finance nine projects in Cameroon worth $109 million to enhance the growth and prosperity of the infrastructure, water, transportation, education, and health sectors to help achieve the UN’s SDGs.

Saudi Fund for Development signs agreement to finance a health project in Cameroon