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Arab News
22-07-2025
- Business
- Arab News
Saudi fund extends $32m in loans to Bosnia for education, innovation projects
JEDDAH: Social infrastructure in Bosnia and Herzegovina is set to improve following two Saudi-funded development loans worth $32 million, targeting science, technology, and higher education facilities. The Saudi Fund for Development has allocated $19 million for the construction of a Science and Technology Park, and $13 million for the development and outfitting of a new student dormitory at the Borisa Starovic Public Institution Student Center in Foca, in the country's southeastern region. SFD CEO Sultan Al-Marshad signed the deals with Bosnia's Minister of Finance and Treasury Srdan Amidzic, in the presence of Saudi Ambassador Osama bin Dakhil Al-Ahmadi, according to an official release. The new funding builds on nearly three decades of Saudi-Bosnian cooperation, during which the SFD has financed 27 projects through nine concessional loans totaling over $163 million, along with $53 million in grants supporting post-war reconstruction and long-term development. The first loan agreement is to finance the Construction of Science and Technology Park Project worth $19 million. It includes a multidisciplinary center over 200,000 m² to support technology, economic growth, healthcare, and higher education—bringing together researchers,… — الصندوق السعودي للتنمية (@SaudiFund_Dev) July 21, 2025 'The Science and Technology Park Project aims to establish a multidisciplinary scientific center covering a total area of approximately 200,000 square meters, supporting technological advancement, economic development, health care, and higher education,' the SFD said. 'The center will serve as a collaborative hub for researchers, scientists, and entrepreneurs across various fields,' it added. The student housing project is intended to strengthen the higher education sector by boosting student enrollment and providing improved accommodation to enhance learning opportunities and support broader community development. The agreements with Bosnia and Herzegovina come amid the SFD's broader engagement in the Balkans. In October 2024, Serbia signed three loan agreements worth $205 million with the fund to support its agriculture, education, and energy sectors, underscoring Saudi Arabia's growing development partnerships across Southeastern Europe. Development support that fosters innovation and education.. #Infographic | #SFD signs two development loan agreements worth $32 million to support social infrastructure in #Bosnia_and_Herzegovina. Towards social and economic growth; #ProsperTogether#SFD50 — الصندوق السعودي للتنمية (@SaudiFund_Dev) July 21, 2025 The SFD's activity in Bosnia is part of a larger push across emerging economies. In a separate deal earlier this month, the fund signed a $30 million loan agreement with Tajikistan to finance the Kulob city ring road project. The project aims to enhance regional transit infrastructure by linking Central Asian countries with China and Indian Ocean markets via land routes. It includes the construction of a road and two bridges to improve traffic flow, road safety, and trade efficiency. An SFD delegation led by Al-Marshad also recently participated in the inauguration of the Wayamba University township development project in Sri Lanka. The $28 million initiative, located in the country's northwestern province, includes new construction, classroom renovations, and modern educational equipment to strengthen the higher education sector.
Zawya
22-07-2025
- Business
- Zawya
Saudi's SFD signs two development loan agreements to support social infrastructure in Bosnia and Herzegovina
Sarajevo: The Saudi Fund for Development (SFD) signed Monday two development loan agreements worth $32 million to support social infrastructure in Bosnia and Herzegovina. The loan agreements were co-signed by CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al Murshid, and Minister of Finance and Treasury, Srdan Amidzic, on behalf of Bosnia and Herzegovina. The purpose of the two loans is to finance the construction of a science and technology park worth $19 million, and the construction and furnishing of student housing at the Borisa Starovic Public Institution in Foca worth $13 million. The Science and Technology Park project aims to establish a multidisciplinary scientific center with a total area of approximately 200 thousand square meters to develop technical fields, advance economic development, healthcare, and the growth of higher education. The center also brings together researchers, scientists, and businessmen from various fields. Meanwhile, the student housing project aims to support development in the education sector and encourage increased student enrollment in universities, as this provides vital opportunities for learning and community development. It is worth noting that the Saudi Fund for Development (SFD) began its development activities in Bosnia and Herzegovina in 1996, by financing the first housing reconstruction and infrastructure support project. The Fund has also financed 27 development projects and programs through 9 soft development loans, valued at more than $163 million, in addition to 4 grants provided by the Saudi government through the Fund, valued at more than $ 53 million, to contribute to social growth and sustainable economic prosperity in Bosnia and Herzegovina. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
