• Tuesday, 16 July 2024

Saudi agreed to 112.5 million Saudi Riyal for reconstruction efforts

Published Date : October 11, 2019
Signing ceremony at the Ministry of Finance with the presence of Minister of Finance.

Kathmandu, Oct 11: The financing agreement between Government of Nepal and Saudi Fund for Development (SDF) concluded on Friday in Ministry of Finance with an aim to support the reconstruction of individual houses, health and education facilities that were devastated by the April 25 earthquake.

The concessional loan of 112.5 million Saudi Riyal will support the “Program for Reconstruction of Houses, Health and Education Facilities in Earthquake Affected Areas”.

At the special presence of Minister of Finance Dr Yuba Raj Khatiwada, Finance Secretary Dr Rajan Khanal and Saudi Fund’s Vice-Chairman and Managing Director Dr Khaled Bin Sulaiman Aikhudairy signed the financing agreement from Government of Nepal and the Saudi Fund for Development respectively.

According to Ministry of Finance, during the event, Khanal recalled the relation between the two countries that are marked as bonds of friendship, goodwill, mutual understanding and cooperation since the diplomatic relation established in 1977 AD.

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