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FINANCIAL NEWS
Saudi Fund lends USD25.5m for Bosnian road project
09 Apr 2011
(MENAFN) Saudi Fund for Development (SFD) chairman, Yousef bin Ibrahim Al-Bassam, stated that the fund lent USD25.5 million for a ring road project in central Bosnia, reported Arab News.
Al-Bassam also said that the loan was a part of a group of deals singed between Bosnia and different Saudi firms. He pointed out that the contracts would boost the economic relations between the two countries.
The chairman added that another deal that was signed was a construction deal between Saudi’s Al-Shiddi Group and Bosnian construction company Ans Drive. He added that the deal was worth USD5million.
It is worth noting that the Saudi Fund for Development was established by Royal Decree in 1974 with a capital of USD2.66 billion. However, the Fund’s capital has been augmented three times since then, and in 1991 it amounted to USD8.26 billion.
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