PARAMARIBO, Suriname, CMC – Suriname has signed an agreement with the Islamic Development Bank (IsDB) for a country strategy 2024-2026 that paves the way for US$235 million in investments in the economy.
Finance and Planning Minister Stanley Raghoebarsing and IsDB President Muhammad Soelaiman Al Jasser signed the agreement, which will allow investments in energy, healthcare, education, waste processing, manufacturing, and the private sector.
The country strategy was signed on the sidelines of the IsDB’s annual meeting in Riyadh, April 27-30. Raghoebarsing represented Suriname.
A vital strategy component is the construction of the new Paramaribo Academic Hospital (AZP), a project stopped in 2018 due to severe shortcomings.
A government statement said that during his visit last September, Suriname put the project back on the agenda. Following the completion of a study during the first quarter of this year, the construction of the hospital is back on stream at an estimated cost of US$150 million. The financing agreement will be signed later this year.
The statement said that an energy proposal from 2020 will go ahead with planned co-financing from four financial organizations.
It said this US$105 million project will significantly improve electricity generation and distribution in Paramaribo and Nickerie. This financing agreement is also expected to be signed this year.
“The Pineapple Value Chain project will be implemented with an IsDB grant of US$300,000 and technical assistance from UNIDO. This will provide an impetus to increase production, processing, and diversification. “
The statement said all projects started before 2020 have been facing problems, including the US$30.8 million Secondary and Technical Education Support (STES) project, which will provide school campuses in Para and Moengo and will now be completed this year.
The statement added that the Affordable Housing Project, signed in 2017 for US$35 million, has been restarted, and 40 percent has now been completed.
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