WARNING: This page is about a different car, the 2004 Volvo S40, 2003 Volvo S40, 2002 Volvo S40, 2001 Volvo S40, and 2000 Volvo S40. However, it is still accessible from the selected car via links, so may be relevant.
Fig 1: Identifying Camshaft Belt
Courtesy of VOLVO CARS OF NORTH AMERICA.
Put the belt around the crankshaft and the RH guide pulley.
Put the belt over the camshaft pulleys.
Put the belt around the water pump and press the belt over the tensioner pulley.