The Saudi Fund for Development is pumping $63 million into a coastal road project in Senegal, it has been announced.
A 12-kilometre, two-lane motorway in Dakar will be built as a result of the agreement with the African nation.
The initiative will also help to improve road safety, cater to the needs of city and rural dwellers, and lower the number of injuries and fatalities brought on by traffic accidents.
The move represents the Saudi Fund for Development’s most recent infusion of cash into Senegal; to date, it has contributed over $447 million toward 27 loans for 25 projects and initiatives.
Additionally, it has given out $19 million in grants to the transportation, infrastructure, housing, urban development, energy, water, and sanitation sectors.
The Fund and the Cameroonian government signed a contract in August to use a $12 million soft development loan from the Fund to pay for the building of the Mbalmayo Regional Hospital Project.
Sultan Al-Marshad, CEO of SFD, and Alamine Ousmane Mey, Minister of Economy, Planning, and Regional Development of Cameroon, signed the agreement.
The deal will support the development of specialised medical departments, centres, and buildings totaling 14,000sqm, as well as the construction and furnishing of the hospital with 200 beds.
To provide simple access, the development plan also calls for renovating the roadways that link the hospital to the major roads.