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Saudi Arabia: SAR 851 Million Loan to Finance 12 Projects

Saudi Arabia: SAR 851 Million Loan to Finance 12 Projects

Monday, 25 December, 2017 - 10:30

Saudi Arabia's Finance Ministry on Monday stated that it has approved SAR 851 million loan for 12 health, education and hospitality projects.

This comes within the framework of strengthening the services provided to citizens, through promoting the role of the private sector in the development sectors.

These projects include financing the construction of five health projects with a combined capacity of 1370 beds in Riyadh, Al-Khobar, Bisha and Abha over 419 square meters.

In addition to funding the establishment of a private university in Madinah, along with six hotel and tourism projects with the total area of 56 square meters in Al-Kharj, Sharourah, Najran, Tabuk, Jazan and Al-Khobar.

“The ministry strives to support the development goals and the Kingdom's Vision 2030 by providing the necessary financing and support to the private sector,” said Tariq Al-Shihayyib, the deputy ministry for revenue and supervisor of the local lending program.

These loans are part of the government lending programs provided by the kingdom to encourage the private sector to invest in projects in areas that require such services.

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