RIYADH: The Saudi Fund for Development has signed an additional development loan agreement worth $35 million for the construction of the King Salman bin Abdulaziz Specialized Hospital in Zambia, raising the total SDF funding for the hospital to $135 million.

The agreement was signed by SFD CEO Sultan bin Abdulrahman Al-Marshad and Minister of Finance and National Planning of the Republic of Zambia Situmbeko Musokotwane in a ceremony attended by Saudi Ambassador to Zambia Ali Al-Qahtani, the Saudi Press Agency reported Friday.

The project seeks to establish a specialized gynecological and pediatric hospital with 800 medical beds in an area of over 200,000 square meters.

The facility will contribute to enhancing specialized healthcare, providing healthcare training, and improving the standards of health services in Zambia, ultimately alleviating financial pressures on beneficiaries.

Al-Marshad, accompanied by Musokotwane and Al-Qahtani, visited the hospital project site to observe the ongoing construction.

Since 1978, the SFD has supported Zambia with over $170 million in financing for various development projects and programs across essential sectors, aimed at fostering social growth and economic prosperity.

The SFD was established to advance sustainable economic development in the world’s least developed countries by leveraging the Kingdom’s resources to provide financial, technical and human support to meet the needs of its partners.