It is reported that Bahrain has signed 6 financing agreements totaling USD 448 million with the Saudi Development Fund to support a number of infrastructure projects as part of the GCC Development Program.
A report in our sister publication said that these include the construction of 1,560 housing units at Al Dur, 6 new schools and a number of infrastructure projects.
The grant will be used for the Shaikh Khalifa bin Salman Interchange between roundabouts 13 and 18, the Muharraq Ring Road Phase I, and the partial funding of the Tubli Sewage Treatment Plant Expansion Phase 4 and the Water Transmission Network.
However, this agreement is part of phase I of the financing grant of USD 500 million for 2 years.
The deal was signed by Mr Shaikh Ahmed bin Mohammed Al Khalifa Finance Minister and Mr Yousif bin Ebrahim Al Bassam Fund vice president and board member.
Saudi Arabia acting Ambassador to Bahrain Mr Mohammed Al Budaiwi, Finance Ministry Under Secretary Mr Aref Saleh Khamis and officials from the Fund and the ministry attended.
Chairing the weekly Cabinet session, HRH Prime Minister Prince Mr Khalifa bin Salman Al Khalifa hailed the deals.
The session commended the GCC's financial support for Bahrain, which reflects strong ties and solid cooperation between member states.
