Saudi Fund allocates $50 million loan for school construction in Kyrgyzstan

Minister of Finance of Kyrgyzstan, Almaz Baketaev, met with Sultan Abdulrahman Al-Marshad, Chief Executive Officerof Saudi Fund for Development.

According to the ministry’s press service, the two sides signed a loan agreement for the project Construction of Public Schools (Phase 2) for $50 million. The funds will be used to build modern schools that meet international standards.

According to the agreement, the following educational institutions will be built in the Kyrgyz Republic:

• Five new schools and seven additional school buildings in Bishkek;
• Two schools in Chui region.

They are designed for 150-1,000 students.

Almaz Baketaev and Sultan Abdulrahman Al-Marshad also discussed the implementation of existing projects supported by the Saudi Fund for Development and noted their contribution to the development of the country’s social and economic infrastructure. Prospects for new initiatives aimed at the sustainable development of the Kyrgyz Republic were also discussed.