Saudi Fund for Development Signs a $10 Million Loan Agreement to Construct Business Incubation Centers in the Bahamas
(from left to right) Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation, Hon. Isaac Chester Cooper & The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad. (Photo: AETOSWire)
The loan will facilitate the establishment of dedicated business incubation centers across three islands to support new business projects. Specifically, these will accommodate 50 small businesses on Nassau Island, 25 small businesses on Exuma Island, and 25 small businesses on Grand Bahama Island.
The project is poised to enhance the tourism sector in the Bahamas, create direct and indirect job opportunities, and contribute towards realizing the United Nations' Sustainable Development Goals (SDGs), specifically SDG 8, Decent Work and Economic Growth, and SDG 9, Industry, Innovation, and Infrastructure.
On this occasion, Hon. Isaac Chester Cooper, Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation, said: “This agreement marks a significant step in our nation's journey towards sustainable growth, with the support of Saudi Arabia through the Saudi Fund for Development. The upcoming business incubation centers will act as catalysts for our aspiring entrepreneurs and help to accelerate job creation and enhance our tourism sector. This partnership reflects a shared vision of prosperity and development.”
On his part, H.E. Sultan Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, said: "SFD is committed to promoting sustainable socio-economic development in developing nations and Small Island Developing States, while supporting the journey to achieving the United Nations’ Sustainable Development Goals. This project promises to nurture entrepreneurship in the Bahamas and stimulate economic growth through the provision of new business and job opportunities in the tourism sector. The agreement further solidifies our commitment to achieving a shared, prosperous, and sustainable future for developing countries worldwide.”
Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20230721961355/en/
Website: https://www.sfd.gov.sa/en/
Contact
The Saudi Fund for Development
Nawaf Alojrush
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9월 4일 15:40