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FINANCIAL NEWS
Saudi finance ministry signs USD15.7m investment contracts
26 Nov 2012
(MENAFN) The Saudi Ministry of Finance inked USD15.7 million worth of contracts to provide the needed funding for investment projects in the Kingdom, reported Saudi Press Agency (SPA).
The ministry said that two contracts were signed to fund the construction of an educational complex for girls in Kharj Governorate and an educational complex for Boys in Tabuk Region.
It added that a third contract was inked for the establishment of a hotel in Jazan.
So far, the ministry has provided USD399 million worth of loans to fund projects of higher education, public education, and national training institutes.
It is worth noting that the three contracts were signed by the Minister of Finance, Dr. Ibrahim bin Abdulaziz Al-Assaf.
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