RIYADH: The Saudi Fund for Development is pumping $63 million into a coastal road project in Senegal, it has been announced.
The agreement with the African country will see the construction of a 12 km, two-lane highway in Dakar.
The project will also contribute to raising the level of road safety, meeting the needs of residents of cities and villages, and reducing the rates of injuries and deaths resulting from traffic accidents.
The move is the latest cash injection the Saudi Fund for Development into Senegal, having previously financed 27 loans to contribute to 25 projects and programs, with a value of about $447 million.
It has also awarded grants worth $19 million in the sectors of transportation, transportation, infrastructure, health, housing, urban development, energy, education, water and sanitation.
In August, the Fund signed an agreement with the Cameroonian government to finance the construction of the Mbalmayo Regional Hospital Project, by providing a soft development loan of $12 million.
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 sq. meters.
The development plan also comprises rehabilitating the roads that connect the hospital to the main roads to ensure easy access.