2002 News Story
 

08/23/2002
SDF to finance projects in eight Asian and African countries

The Saudi Development Fund (SDF) has recently signed with eight Asian and African countries loan accords worth SR.1,067.25 million [U.S. $ 284.98 million]. A total of 341 loans worth SR.2,442.16 million [$ 5,992.57 million] was extended by the Fund from its inception in 1975 up to last year.


In Africa, there are six loans worth SR.348 million [$ 92.92 million] for projects in Morocco, Mali, Burkina Faso, Algeria, and Tunisia. Morocco received two loans of SR.135 million [$ 36.05 million], one for social development and the other to build and equip a university hospital. Mali received SR.45 million [$ 12.02 million] for domestic roads; Burkina Faso SR.34 million [$ 9.08 million] for rural development; Algeria SR.94 million [$ 25.1 million] for a housing project; and Tunisia SR.40 million [$ 10.68 million] for a medical center.

In Asia, loans worth SR.719.25 million [$ 192.06 million] went to projects in Lebanon, Yemen and Turkey. Lebanon received two loans of SR.206.25 [$ 55.07 million], one for a dam and the other for a highway into Syria. Yemen received loans totaling SR.375 million [$ 100.13 million] for three electricity projects, and Turkey SR.138 million [$ 36.85 million] for a teaching hospital, a medical college and a university research center.

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