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FinancialNews
13-10-18
Bahrain, Saudi Fund ink USD25m agreements
(MENAFN) Bahrain and the Saudi Fund for Development (SFD) were announced to have signed two agreements at a value of USD25 million.
Bahraini Finance Minister Sheikh Ahmed bin Mohammed Al Khalifa penned the two agreements with SFD Vice President and Managing Director Khalid bin Sulaiman Al Khudairi.
The deals were inked in Indonesia on the sidelines of the yearly meetings of the Board of Governors of the World Bank and International Monetary Fund.
The deals will entail that financing Bahrain is offered under the Gulf Cooperation Council development program is to be raised to hit USD2.5 billion.
The funds are to cover USD442 million for housing initiatives, USD581 million for electricity and water plans, USD665 million for road networks, and USD93 million for sewage facilities among other areas.
MENAFN1310201800450000ID1097562939
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