Friday, October 11, 2019

Saudi Fund for Development agrees to provide Rs 3.33 billion soft loan to Nepal

Kathmandu, October 11

The Saudi Fund for Development (SFD) has agreed to provide a concessional loan of Rs 112.5 million Saudi Riyal (Rs 3.33 billion) to Nepal with an aim to support the “Programme for Reconstruction of Houses, Health and Educational Facilities in Earthquake Affected Areas.”

Finance secretary Rajan Khanal on behalf of the government of Nepal and the SFD Vice-Chairperson Khaled Bin Sulaiman signed the financing agreement on Friday amid an event in the Ministry of Finance in the presence of Finance Minister Yuba Raj Khatiwada.

On the occasion, Sulaiman, also SFD Managing Director, said it was the SFD’s responsibility to provide assistance to Nepal in need while expressing his happiness at SFD’s efforts to help with the reconstruction campaign launched by the Government of Nepal.

Likewise, Khanal expressed his gratitude to the SFD, its leadership and the Government of the Kingdom of Saudi Arabia for this generous support in the humanitarian sector.

He also expressed his gratitude to Sulaiman for realising the urgency of resources for reconstruction activities and for travelling to Kathmandu to sign the agreement despite his tight schedule.

Also, he appreciated the continued development assistance from Saudi Arabia through the SFD and also for providing employment opportunities for Nepali youths in Saudi Arabia.

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