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 Ministry of Finance Signs SAR 851 Million Financing Agreement for 12 Projects

In the presence of His Excellency Dr. Hamad Al-Bazie, Vice Minister of Finance, Mr. Tariq Al-Shuhayeb, Deputy Minister for Revenue Affairs and Supervisor of the Local Lending Program, signed SAR 851 million financing agreements for 12 health, education and hotel projects.  
Mr. Tariq Al-Shuhayeb stated that the agreements come within the framework of enhancing the services provided to citizens, through promoting the role of the private sector in the development fields and within the government lending program. The agreement includes financing the construction of five health projects with a combined capacity of 1370 beds and total area of 419.291 square meters in Riyadh, Al-Khobar, Bisha and Abha. In addition to funding the establishment of a private university in Madinah with area of 13.820 square meter; along with six hotel and tourism projects with the total area of 56.202 square meters in Al-Kharj, Sharourah, Najran, Tabuk, Jazan and Al-Khobar. 
“The local lending program aims to support the development goals and the Kingdom's Vision 2030 by providing the necessary financing and support to the private sector; as well as strengthening the economy's ability to generate diverse employment opportunities” said Mr. Tariq Al-Shuhayeb, Deputy Minister for Revenue Affairs. Al-Shuhayeb thanked all government agencies participating in the local lending program, including the Ministry of Health, the Ministry of Education, and the Saudi Commission for Tourism & National Heritage. 
It is worth mentioning that 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. These projects will support the role of the private sector in providing services and upgrading its efficiency to complement the government services provided to the citizens. 

Last Update : 3/28/2018 6:44 PM