SFD signs first development loan of $103 million to build hospital in Nicaragua

Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, signed the first concessional development loan agreement of $103 million with Bruno Gallardo, Nicaragua’s vice minister of finance and public credit, in Nicaragua. (SPA)
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Updated 07 June 2024
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SFD signs first development loan of $103 million to build hospital in Nicaragua

  • The loan will be used to finance the construction and equipping of the regional hospital in Las Minas

NICARAGUA: Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, signed the first concessional development loan agreement of $103 million with Bruno Gallardo, Nicaragua’s vice minister of finance and public credit, in Nicaragua.
The loan provided by the fund will be used to finance the construction and equipping of the regional hospital in Las Minas, the Saudi Press Agency reported.
The agreement was signed in the presence of the Nicaraguan Minister of Finance and Public Credit Ivan Acosta, the Nicaraguan Minister of Health Dr. Martha Reyes, and deputy chief of mission at the Saudi Embassy in Mexico, Sultan Al-Muzaini.


Experimental farm in Al-Lith looks into future of Saudi Arabian agriculture

Updated 02 February 2026
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Experimental farm in Al-Lith looks into future of Saudi Arabian agriculture

  • Research initiative reflects strategic transformation

JEDDAH: An experimental farm in Saudi Arabia’s Al-Lith Governorate is one of the research initiatives reflecting the strategic transformation taking place in the Kingdom’s agricultural sector.

The farm uses highly efficient, sustainable production models that combine scientific research with commercial application, contributing to strengthening the country’s food security system and the sustainability of water resources.

Located in the Ghumaiqa Center on an area of about 10 hectares, the cutting-edge farm is a testing platform for modern agricultural technologies that tackle the challenge of water scarcity.

The farm includes developed open fields and modern greenhouses, supported by smart irrigation encompassing drip and sprinkler irrigation alongside surface and subsurface technologies.

All the systems operate via smart controls that enable the monitoring of water consumption and ensure improved efficiency, thereby achieving a balance between agricultural production and water conservation.

The farm also uses treated and diluted low-salinity seawater.

It aims to diversify agricultural water sources, reduce reliance on freshwater, and open new horizons for agriculture in coastal and semi-arid environments.

A view of the experimental farm in Al-Lith. (SPA)

The project represents a promising investment opportunity in the field of smart agriculture, enabling the development of commercially scalable production models, particularly for high-value vegetables and fruits, while reducing operational costs associated with water and energy, enhancing the economic feasibility of future agricultural projects.

In addition, the project contributes to transferring and localizing agricultural expertise, supporting local food supply chains, and creating an attractive environment for agricultural investment.

This aligns with Sustainable Development Goals and enhances the efficiency of the private sector in adopting innovative agricultural solutions.

Yahya bin Abdulrahman Al-Mahabi, the director of the Ministry of Environment, Water and Agriculture office in Al-Lith Governorate, told the Saudi Press Agency that the project represented the future of agriculture in the Kingdom.

He explained that the vision was based on investing in technology, enhancing the return on water per unit, and integrating scientific research with investment opportunities.

Al-Mahabi spoke of the experimental farm as a modern, scalable and replicable model applicable in several regions of the Kingdom, particularly in coastal environments.

Al-Mahabi highlighted the Ministry of Environment, Water and Agriculture’s commitment to supporting distinctive projects that contributed to achieving food security while developing rural areas and enhancing agricultural production efficiency, in line with the objectives of the Kingdom’s Vision 2030.