Saudi Arabian Development Fund (SFD) announced that it signed a new loan agreement with Turkiye in the amount of $55 million. The loan aims to rehabilitate 5 public schools with an area of approximately 55 thousand square meters.
According to SFD’s statement, the signing ceremony for the agreement was held with the participation of Minister of Treasury and Finance Mehmet Simsek, Deputy Minister of Treasury and Finance Osman Celik, SFD Chairman Ahmed Al-Khateeb and SFD Chief Executive Officer Sultan Al-Marshad.
The loan in question is intended to be used within the scope of the “Earthquake Risk Reduction Project in Public Schools”.
5 public schools with an area of approximately 55 thousand square meters will be rehabilitated with the loan to be received within the scope of the agreement signed at the Turkiye-Saudi Arabia Investment and Business Forum held in Istanbul.
The aim of the project is to protect the schools determined from damage that may occur due to earthquakes. In this context, the necessary equipment and resources will be allocated to schools and the continuity of education quality and efficiency will be ensured.
A new milestone in advancing project cooperation
The project, financed by SFD, represents a new milestone in advancing the Fund’s regular cooperation with Turkiye.
The project aims to provide quality education to students and promote contribution to the socio-economic development of the country. The project also supports the achievement of the United Nations Sustainable Development Goals, including the article “Quality Education”.
Aiming to support the education sector in Turkiye and strengthen the country’s goal of providing a world-class education, SDF has financed 9 development projects and programs worth over $300 million in Turkiye in the last 40 years in areas such as energy, health, agriculture and education.
Source: Trthaber / Prepared by Irem Yildiz