Saudi signs $201m of loans for health and education projects

The Saudi Ministry of Finance signed agreements to fund 17 health, education and hotel projects, totalling SAR 755.8m ($201.5m).

The funding for these projects come from a local lending programme aiming to improve basic services available to citizens and encourage the private sector to invest.

The project includes eight hospitals and medical complexes, using SAR 407.7m ($108.69m) of the total, to be established in Riyadh, Dammam, Abu Arish, Jeddah, Abha and Buraidah.

In the education sector, the government will use SAR 340.74m ($90.83m) of the loan for eight schools, universities and colleges in Riyadh, Madinah, Jeddah and Dammam.

This year, the Ministry of Finance has funded 29 health, education and hotel projects with the lending programme, coming to a total of SAR 1.6bn ($426.5m) of loans.