Thursday May 23rd, 2024
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SFD Signs USD 40M Loan to Develop St Kitts and Nevis’ Energy Sector

The loan will finance the expansion of a power plant project in the Caribbean island nation of Saint Kitts and Nevis.

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SFD Signs USD 40M Loan to Develop St Kitts and Nevis’ Energy Sector

The Saudi Fund for Development (SFD) has signed a $40 million loan agreement with the government of Saint Kitts and Nevis to bolster the Caribbean island nation’s energy sector.

SFD is a government fund that provides monetary assistance to developing countries. This latest loan will finance the expansion of a power plant project in Saint Kitts and Nevis. The project entails the establishment of a dual-fuel power generation station with a capacity of 18 megawatts.

Since its establishment in 1975, SFD has financed over 800 projects and development programmes worldwide, with a total investment exceeding USD 20 billion.

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