2002 News Story

SDF to finance projects in eight Asian and African countries

The Saudi Development Fund (SDF) has recently signed with eight Asian and African countries loan accords worth SR.1,067.25 million [U.S. $ 284.98 million]. A total of 341 loans worth SR.2,442.16 million [$ 5,992.57 million] was extended by the Fund from its inception in 1975 up to last year.

In Africa, there are six loans worth SR.348 million [$ 92.92 million] for projects in Morocco, Mali, Burkina Faso, Algeria, and Tunisia. Morocco received two loans of SR.135 million [$ 36.05 million], one for social development and the other to build and equip a university hospital. Mali received SR.45 million [$ 12.02 million] for domestic roads; Burkina Faso SR.34 million [$ 9.08 million] for rural development; Algeria SR.94 million [$ 25.1 million] for a housing project; and Tunisia SR.40 million [$ 10.68 million] for a medical center.

In Asia, loans worth SR.719.25 million [$ 192.06 million] went to projects in Lebanon, Yemen and Turkey. Lebanon received two loans of SR.206.25 [$ 55.07 million], one for a dam and the other for a highway into Syria. Yemen received loans totaling SR.375 million [$ 100.13 million] for three electricity projects, and Turkey SR.138 million [$ 36.85 million] for a teaching hospital, a medical college and a university research center.