Riyadh : CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad signed today two development loan agreements with Seychelles Minister of Finance, National Planning and Trade Naadir Hassan.
Through the loans, the SFD is contributing $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project, Saudi Press Agency (SPA) reported.
The first loan agreement worth $15 million will contribute to establishing residential buildings for low-income families in various regions of the country.
Meanwhile, the second agreement worth $10 million will help provide a modern educational environment in the Seychelles.
Since its establishment in 1974, the SFD has implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion.