• publish: 27 August 2019
  • time: 12:16 pm
  • category: Economy
  • No: 9989

Saudi Arabia invests SAR 367 mln in infra projects in Afghanistan

The Saudi Fund for Development (SFD) has announced that it would invest SAR 367.5 million in road and school projects in Afghanistan.

A loan valued at SAR 180 million has been approved for Phase 1 of the Ring Road project in the country’s capital city of Kabul, Saudi Press Agency reported on Monday.

Another loan, worth SAR 187.5 million, will be used to build a school in Afghanistan.

The funds have been approved as part of two agreements signed by the chairman of the board of directors of SFD, Ahmed bin Aqeel Al-Khatib, and Afghanistan President, Dr Mohammad Ashraf Ghani.

The fund so far has provided total financing worth SAR 922.5 million for development projects in Afghanistan.

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