Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Economy, Health

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

SFD to provide US$20m loan to Central African Republic for development projects

Since 1975, SFD has funded more than 750 development projects worth US$20 billion in over 90 countries.
By TRENDS Desk
October 14, 2023 5:11 pm
  • The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund Annual Meetings in Morocco.
  • The US$20 million loan agreement aims to finance development projects in CAR, including the establishment of a 250-bed hospital.

MARRAKESH, MOROCCO – The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20 million loan agreement with Central African Republic (CAR) Prime Minister Félix Moloua.

The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund (IMF) Annual Meetings in Morocco.

The $20 million loan agreement aims to finance development projects in CAR, including the establishment of a 250-bed hospital

The agreement came in continuation of the existing cooperation between the two sides.

The SFD extended a $77 million loan to CAR in 2015 to support developmental projects.

Since 1985, the SDF has provided US$109 million in support to finance four development projects and programs in CAR in various sectors including infrastructure, transportation and telecommunication.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]