The Saudi Fund for Development (SFD) has signed two loan agreements worth $32 million with Bosnia and Herzegovina to support key social infrastructure projects.
Saudi Fund for Development’s (SFD) Chief Executive Officer, Mr. Sultan bin Abdulrahman Al-Marshad, signed two development loan agreements with the Minister of Finance and Treasury of Bosnia and Herzegovina, HE Dr. Srđan Amidžić.
The agreements provide financing for the Construction of a Science and Technology Park Project with a value of $19 million, and the Construction and Equipping of an Additional Student Housing Unit at the Borisa Starović Public Institution Student Center in Foča with a value of $13 million.
The funding aims to enhance public services and improve the quality of life across various communities in the country. This occasion marks a continuation of the longstanding development partnership between the two countries, which has spanned nearly 30 years.
The Science and Technology Park Project aims to establish a multidisciplinary scientific center covering a total area of approximately 200,000 square meters, supporting technological advancement, economic development, healthcare, and higher education. The center will serve as a collaborative hub for researchers, scientists, and entrepreneurs across various fields.
The Student Housing Facility Project aims to enhance the higher education sector by encouraging greater student enrollment and providing improved accommodation options, ultimately fostering learning opportunities and contributing to broader community development.
Saudi Fund-Bosnia and Herzegovina Relations
It is worth noting that the Saudi Fund for Development began its development efforts in Bosnia and Herzegovina in 1996, starting with the reconstruction of housing and infrastructure.
To date, the SFD has financed 27 development projects and programs through 9 concessional loans exceeding $163 million. Furthermore, the Kingdom of Saudi Arabia, through SFD, has allocated four generous grants amounting to more than $53 million, contributing to sustainable social growth and economic prosperity in Bosnia and Herzegovina.
