ST.LUCIA-Government signs multi-million dollar loan with Saudi Arabia fund

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CASTRIES, St. Lucia, CMC – The St. Lucia government has signed a US$75 million loan agreement with the Saudi Fund for Development (SFD) that will be used for the construction and rehabilitation of St Jude Hospital south of here that had been gutted by fire in 2009.

Prime Minister Phillip J Pierre signed the agreement with SFD chief executive officer Sultan Al-Marshad.

“The project aims to provide integrated medical facilities with a capacity of over 100 beds, offering secondary medical care to St. Lucia’s population. The rehabilitation will also enhance the hospital’s climate and resilience, improving stability and safety. The eastern, western, and southwestern wings and sub-buildings will be reconstructed and rehabilitated,” said Al-Marshad.

Prime Minister Pierre expressed his emotional attachment to the project, acknowledging the taxpayers’ contributions of over EC$200 million to the hospital’s reconstruction without completion.

He spoke of the importance of delivering a fully functional hospital to prevent further suffering for the people of the south and that the loan has a five-year grace period with a two percent interest.

Health, Wellness, and Elderly Affair Minister, Moses Jn Baptiste, said that the hospital, which has been forced to operate from the nearby George Odlum Stadium, said the facility serves an estimated 50,000 people annually with the government spending three million EC dollars (One EC dollar=US$0.37 cents) annually to operate the hospital, posing a challenge for the country.

“The funding from Saudi Arabia comes as a significant gift and consideration,” Jn Baptiste added.

Pierre said that the George Odlum Stadium will be rehabilitated to host sporting activities and that construction should be completed by 2028.

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