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.