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FINANCIAL NEWS
Saudi to invest USD21b in its educational system
20 May 2014
(MENAFN) Saudi Arabia plans to invest as much as USD21.32 billion to overhaul its educational system, according to Arab News.
The five-year plan has been approved by the Custodian of the Two Holy Mosques King Abdullah, and includes building 1,500 nursery schools, training about 25,000 teachers, and establishing educational centers and other related projects.
This project is a part of a wider plan to improve the kingdom’s education system, which includes an executive plan for a public education development project named after King Abdullah.
Education Minister Prince Khaled Al-Faisal said: “The king has also agreed to set up an endowment to support public education. This would enable the ministry to have an independent financial source to cover additional expenses, thus easing pressure on the national budget.”
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