RIYADH — Upon the directives of Custodian of the Two Holy Mosques King Salman and the Crown Prince to allocate a grant from the government of Saudi Arabia through the Saudi Fund for Development (SFD) to finance the renovation project of Ibn Al Khatib Hospital in Baghdad, SFD’s CEO Sultan A. Al-Marshad signed a memorandum of understanding (MoU) to finance the project.

On behalf of the Iraqi Ministry of Finance, the Ambassador of Iraq Dr. Abdul Sattar Hadi Al-Janabi signed the MoU at SFD headquarters in Riyadh. The meeting was also attended by the Ambassador of Saudi Arabia in Baghdad Abdulaziz Bin Khalid Al- Shammari.

This MoU continues the close and exceptional historical relations between the two brotherly nations, as the grant comes to support Iraq and Iraqis in overcoming the fire incident.

It strengthens and enhances constructive development cooperation between the two nations and promotes the development and prosperity of Iraq's social structure.

During the meeting, Ambassador Al-Janabi praised the critical role played by the Kingdom through the SFD in supporting the health sector and the infrastructure in Iraq.

He highlighted the importance of the present project in enhancing the livelihood of many Iraqis and their access to essential health services.

For his part, the SFD’s CEO affirmed that the MoU reflects the keen interest of the Kingdom to support Iraq, strengthen development relations, and address the challenges that face the infrastructure and the health sector in Iraq through financing projects that contribute to the social and economic development of Iraq.

In past years, and during the Kuwait International Conference for the Reconstruction of Iraq, the Kingdom has announced the allocation of $1.5 billion for soft loans through SFD to support development in Iraq.

Two development projects amounting to more than $40 million have already been signed to finance two projects in the health and agriculture sectors, including the establishment of Al-Saqlawiya Hospital in the western governorate of Al-Anbar and the establishment of grain silos in the southern governorate of Diwaniya.

The supported projects aim to achieve food security and self-sufficiency for Iraq as well as enhance, improve, and support basic healthcare services for the people of Iraq. — SPA