ST. GEORGE’S, Grenada – The Grenada government has allocated approximately one million dollars in the 2025 national budget towards opening a mission in Saudi Arabia as part of its strategy to promote trade and investment and provide Consular services to Grenada residents in the Middle East and neighboring countries.
Finance Minister Dennis CornwallFinance Minister, Dennis Cornwall, is scheduled to return from a visit to Saudi Arabia later on Tuesday, ahead of his presentation of the national budget on Thursday.
Government Press Secretary, Neila Ettienne, confirmed last week that Cornwall is in Saudi Arabia on state business meeting with several stakeholders “all related to finance matters”.
In October, 2023 Cornwall, on the sidelines of the 2023 Annual Meetings of the World Bank Group and the International Monetary Fund in Morocco signed a loan agreement with Saudi Arabia for US$100 million.
This was Grenada’s first loan from the Saudi Fund for Development (SFD) but it is not known whether the country has drawn down on that funding for any of the climate smart infrastructure projects the money was scheduled to fund.
The projects were listed as constructing breakwaters, developing hydro and sewage networks, modernizing the waste treatment system, and using remote sensors to monitor air pollution.
The Saudi Arabia mission is the second mission in the Arabian Peninsula given that a Grenada mission is in Dubai.
Besides Saudi Arabia, Grenada in 2025 will also be opening a new mission in Ottawa, Canada with an estimated EC$800,000 allocation being made..
These new missions will bring to 13 the number of foreign missions established by Grenada.
