John Briceno, the Prime Minister of Belize, and the Saudi Fund for Development inked a development financing agreement worth $45 million for the building of the Tertiary Hospital in the Belmopan Area Project.
The agreement, which was signed by Ahmed Al-Khateeb, the chairman of SFD's board of directors, is a component of Saudi Arabia's efforts to help small island developing states (SIDS) and sustainable development in developing nations.
It is a result of the King Salman and Crown Prince Mohammed bin Salman's commands.
Belize is now the 87th nation to receive funds for a development project after the agreement was signed. Since SFD's founding in 1974, it has carried out more than 700 development projects and programmes in 86 nations.
Modern medical facilities, equipment, and integrated health services will be provided to the new 200-bed hospital, which will help about 200,000 people a year. By educating health professionals and University of Belize students, the project seeks to strengthen the capabilities of the local healthcare system.
The hospital will be essential in tackling chronic disease management, perhaps lowering death rates in the area, in addition to helping to improve access to high-quality healthcare services.
By fostering both direct and indirect employment opportunities in the healthcare industry, offering a venue for medical education and training, and boosting Belize's long-term health care capacity and resilience, the new hospital will also promote regional economic development.