Riyadh, Saudi Arabia— The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social housing in the country.
In this regard, CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad signed two development loan agreements with Seychelles Minister of Finance, National Planning and Trade Naadir Hassan.
Through the loans, the SFD is contributing $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project, Saudi Press Agency (SPA) reported.
The first loan agreement worth $15 million will contribute to establishing residential buildings for low-income families in various regions of the country.
Meanwhile, the second agreement worth $10 million will help provide a modern educational environment in the Seychelles.
Since its establishment in 1974, the SFD has implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion.
