Minister Chris Coye visits Saudi Arabia

Minister of State in the Ministry of Finance, Economic Development, and Investment, Senator Christopher Coye, spent part of last week visiting Saudi Arabia. He was hosted by the Saudi Fund for Development (SFD), which finances priority development projects in developing countries on a concessionary basis. The minister met with SFD’s CEO Sultan A. Al-Marshad and other representatives of the organization to discuss various priority public sector investment projects in health, energy, and infrastructure. During his visit, the minister also met with Abdul Mohsen Al-Khalaf, Assistant Minister of Finance for Macro Fiscal Policies and International Relations, and other representatives of the Ministry of Finance. He briefed the assistant minister on Belize’s application to gain eligibility for the World Bank’s International Development Association’s highly concessionary resources through the Small Island Economy Exception, emphasizing that due to its high vulnerabilities to climate and other economic shocks, Belize, like other small island economies, needs access to more affordable financing for development. Assistant Minister Al-Khalaf pledged the Kingdom’s support for Belize on this matter. He also met with other leading representatives of the kingdom’s private sector to explore investment opportunities and trade, particularly in tourism, agriculture, energy, and nearshoring.