Saudi Arabia To Loan $130 Mln To Kyrgyzstan For Low-Income Housing And Road Projects
Date
4/24/2023 7:21:23 PM
(MENAFN- Trend News Agency) Saudi Arabia agreed on Monday to provide loans worth $130
million to Kyrgyzstan to develop low-income housing and roads in
the central Asian nation, trend reports citing al
arabiya .
A loan of $100 million was provided in order to construct 3,000
housing units for low-income families over an area of 255,000
square meters, the Saudi Fund for Development (SFD) said in a
statement.
The remaining $30 million will be allocated to funding the
Taraz-Talas Road Project, reconstructing 93 kilometers of
highway.
SFD CEO Sultan al-Marshad signed the agreements on Monday in the
Kyrgyz capital Bishkek along with Kyrgyzstan finance minister Almaz
Baketaev.
Saudi Arabia“attaches great importance to supporting the
development sectors in the Republic of Kyrgyzstan through
development projects and programs financed by the Saudi Fund for
Development that aim at achieving sustainable development goals
(SDGs),” al-Marshad said in the statement.
Baketaev expressed his gratitude towards the Kingdom for
supporting various developments in the country.
The SFD has provided 10 soft development loans to Kyrgyzstan
with a total value of $330 million since 2011, along with a grant
of $4 million.
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