The Saudi Fund for Development (SFD) and the Arabian Gulf University (AGU) have signed a memorandum of understanding (MoU) to finance a project to equip King Abdullah bin Abdulaziz hospital at the university, valued at more than $11.5 million.
SFD Chief Executive Sultan Al-Marshad and university president Dr. Saad Al Fuhaid signed the agreement in the presence of Bahraini Minister of Education Mohamed bin Mubarak Juma.
The MoU is part of Saudi Arabia’s grant provided through the Saudi Fund to fund the construction of the King Abdullah bin Abdulaziz Medical City, affiliated with the AGU, with a total allocation of $266 million (SAR1 billion).
The project is designed to equip the hospital with a state-of-the-art information technology (IT) system and high-quality non-medical furnishings, ensuring the comprehensive functionality of the medical city.
Furthermore, this initiative aims to enhance operational efficiency and support the hospital’s broader developmental goals.
According to the statement, this initiative reflects the Saudi Fund’s steadfast commitment to the healthcare sector as a foundational pillar of sustainable development. By strengthening healthcare infrastructure, the SFD also supports the integrated progress of other critical sectors, all contributing to a more prosperous and resilient future.
SFD’s support to Bahrain
The Saudi Fund for Development has played a pivotal role in supporting the Kingdom of Bahrain through a series of strategic development projects aimed at enhancing infrastructure, public services, and overall socio-economic growth.
As part of the Gulf Development Program, the SFD has financed numerous initiatives across vital sectors such as healthcare, housing, education, and transportation. These contributions include the development of major healthcare facilities, construction of affordable housing units, expansion of road networks, and modernization of educational institutions.
