Media ININ Economy We Trust
MediaIn / Riyadh 31 July 2018
The Ministry of Finance has signed financing agreements for 17 health, educational and hotel projects with total loans amounting to SR 755,810,000 million. The total investments of these projects amounted to SR 1,547 billion as part of the local lending program provided by the State To promote the basic services provided to citizens in the regions of the Kingdom, by encouraging the private sector to invest in service projects, under the patronage of His Excellency Deputy Minister of Finance Dr. Hamad bin Sulaiman Al-Bazai. The agreements were signed by the Undersecretary for Income Affairs, who oversees the local lending program, Tariq Abdullah Al-Shahib, in the presence of Assistant Undersecretary of Revenue Mohammed Al-Mulla, the project owners, and a number of officials from the Ministries of Health, Education, Finance, the General Authority for Tourism and National Heritage, the Saudi Industrial Development Fund, And the General Authority for Small and Medium Enterprises. The Deputy Minister of Finance stressed that the private sector is one of the pillars of the national economy and strategic partner in development. Therefore, the signing of borrowing agreements from the local lending program constitutes support for the participation of this vital sector in the comprehensive development plans. He then held a press conference to discuss the local lending program, the financing agreements for development projects under its umbrella, and its strategic dimensions in the light of the objectives of the vision of the Kingdom 2030. Al-Shahib said that the agreements are to establish eight health projects consisting of hospitals and medical complexes, (SAR 407,780,000), distributed over Riyadh, Dammam, Abu Arish, Jeddah, Abha and Buraidah, as well as eight educational projects consisting of schools, universities and colleges with a total amount of SR (340,741,000) Distributed over the cities of Riyadh, Medina, Jeddah, Dammam, to Java
