The SFD signs two agreements to finance two projects in the transportation and housing sectors, at a value of $130mln , in Kyrgyzstan

The SFD signs two agreements to finance two projects in the transportation and housing sectors, at a value of $130mln , in Kyrgyzstan

Bishkek: The Saudi Fund for Development (SFD), represented by its CEO, Mr. Sultan bin Abdulrahman Al-Marshad, signed, today in the Kyrgyz capital, Bishkek, with the Ministry of Finance of the Republic of Kyrgyzstan, represented by His Excellency Minister of Finance, Mr. Almaz Baketaev, two agreements funded by the Saudi Fund for Development (SFD) through soft development loans worth $130 million. The signing ceremony was attended by His Excellency Deputy Ambassador of the Custodian of the Two Holy Mosques to the Kyrgyz Republic, Mr. Saad Al-Dhawayan and a number of officials from both sides.

The first agreement included; financing the housing program project to construct houses through a soft development loan of $100 million. The project aims to construct (3000) housing units with an area of about (255,000 square meters), which will contribute to enhancing the livelihoods and social stability of low-income families in Kyrgyzstan.

The second agreement, furthermore, included; contributing to the financing of the Taraz-Talas Road Project (Phase 4) with a soft development loan of $30 million. The agreement aims to reconstruct (93 km), as the project will contribute to reducing the rate of injuries and deaths resulting from traffic accidents, and improving the level of road safety and enhancing its