$448m financing grant signed

Six Financing Grant Agreements were signed yesterday, the 30th December 2012, between the Government of the Kingdom of Bahrain and the Saudi Fund for Development, representing the Saudi Arabian Government, whereby the Saudi Government will grant an amount of US $ 448 million to towards financing various Projects in Bahrain. This amount is part of phase I of the Financing Grant of US $ 500 million for two years, and covers the following Projects : • Construction of 1,560 Housing Units at Ad dur. • Secondary Boys School at Honenia • Intermediate Girls School at Busaiteen • Intermediate Boys School at Hamadtown • Primary & Intermediate Girls School at Malkiya • Primary Boys School at Isa Town • Comprehensive School at Jaw • Sh Khalifa Bin Salman Interchange between Roundabouts 13 & 18• Muharraq Ring Road Phase I • Tubli Sewage Treatment Plant (STP) Expansion Phase 4 (partial funding) • Water Transmission Network (partial funding) H.E. Sh. Ahmed Bin Mohammed Al Khalifa, the Minister of Finance has signed the agreement on behalf of the Government Bahrain, and H.E. Mr. Yousif bin Ebrahim Al Bassam, Vice President and Board Member has signed on behalf of the Fund. His Excellency the Minister of Finance expressed his gratitude to the Saudi Arabian Government for their continued support to the social and infra-structure development in Bahrain. The signing ceremony was attended by H.E the Saudi Arabian Acting Ambassador to Bahrain H.E. Mohammed Al Budaiwi, the Undersecretary in the Ministry of Finance (MOF) Mr. Aref Saleh Khamis, and other officials from the Fund and MOF.