Bahrain, SDF sign 2 financial grant deals
Manama, March 25, 2014
Two financial grant agreements were yesterday signed between Bahrain and the Saudi Development Fund (SDF), in implementation of the second phase of a Saudi grant under the Gulf Development Programme.
The SDF has been assigned the task of managing the Saudi grants which cover two projects in the health sector worth $58 million as part of a total grant of $2.5 billion, said a report in the Gulf Daily News (GDN), our sister publication.
The two agreements were signed by Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and SDF vice-president and management director Yusuf Ibrahim Al Bassam in the presence of Saudi Ambassador to Bahrain Dr Abdullah Abdul Malik Al Sheikh.
The first agreement covers the funding for a $21 million, 60-bed kidney dialysis centre in Riffa which will reduce waiting lists and increase efficiency of healthcare in this field.
The second agreement covers the funding for a $37 million long-term stay care centre in Muharraq which will provide services to patients who need long-term stay at health centres with a total intake capacity of 100 beds.
Earlier, six grant agreements were signed on December 30, 2012 with the SDF which covered housing, education, works, electricity and water projects with a total amount of $448 million. - TradeArabia News Service