Saudi Fund for Development signs two agreements to finance $130mln projects in Kyrgyzstan

Saudi Fund for Development signs two agreements to finance $130mln projects in Kyrgyzstan

The Saudi Fund for Development (SFD), represented by its CEO, Sultan bin Abdulrahman Al-Marshad, signed, today in the Kyrgyz capital, Bishkek, with the Ministry of Finance of the Republic of Kyrgyzstan, represented by Minister of Finance, 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 Saudi Deputy Ambassador to the Kyrgyz Republic, Saad Al-Dhawayan and several officials from both sides.

The first agreement involves financing the construction of 3000 housing units covering an area of about 255,000 square meters through a soft development loan of $100 million. The project aims to enhance the livelihoods of low-income families in Kyrgyzstan. The second agreement contributes to the financing of the Taraz-Talas Road Project (Phase 4), which aims to reconstruct 93 km of road to improve road safety, reduce traffic accidents, and enhance the quality of the road. This $30 million project is jointly financed by several Arab Coordination Group funds.

SFD CEO stressed, "These development agreements are an extension of the developing relationship between the Saudi Fund for Development and the Republic of Kyrgyzstan that spans over more than 12 years, as the government of the Kingdom of