Saudi Fund for Development, Seychelles sign $25 million development loans

Riyadh, Sept. 29 (BNA): CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad signed today two development loan agreements with Seychelles Minister of Finance, National Planning and Trade Naadir Hassan.

Through the loans, the SFD is contributing $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project, Saudi Press Agency (SPA) reported.

The first loan agreement worth $15 million will contribute to establishing residential buildings for low-income families in various regions of the country.

Meanwhile, the second agreement worth $10 million will help provide a modern educational environment in the Seychelles.

Since its establishment in 1974, the SFD has implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion.



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