A loan agreement for 131.3 million Saudi riyals, equivalent to $35 million, has been signed in Jeddah, Saudi Arabia between the government of Tajikistan, represented by Abdusalom Qurboniyon, Minister of Finance, and the government of the Kingdom of Saudi Arabia, represented by Yousef Ibrahim Al-Bassam, Vice President & Managing Director, The Saudi Fund for Development.
According to Tajikistan’s Ministry of Finance Secretariat, the amount of this soft term loan is allocated for co-financing the Construction and the Equipment of Schools Project, Phase 4.
The project aims at supporting enhancement of the education sector in Tajikistan by means of construction and equipment of a number of schools in the districts of Muminobod, Khovaling, Baljuvon, Danghara, Shamsiddin Shohin, Kulob, Vose, Dousti, Jomi, Devashtich, Istaravshan, Panjakent, Asht, Konibodom, Masthoh, Varzob, Roudaki, Vahdat and Nourobod.
The project is expected to be completed in 2023.
The Saudi Fund for Development (SFD) is a Saudi government agency that channels bilateral aid to developing countries, predominantly through grants and soft loans. Established by royal decree in 1974, the fund began operations in 1975. Loans often support infrastructure development, such as road and dam construction, construction or rehabilitation of hospitals and health clinics, and the expansion of water and sanitation services; they also support work in education, housing and urban development, the energy sector, and education. (News.tj/Business World Magazine)
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