Saudi Fund Extends $32 Million in Loans to Bosnia for Education and Innovation Projects
The Saudi Fund for Development allocates $19 million for a Science and Technology Park and $13 million for student dormitory development in Bosnia.
Social infrastructure in Bosnia and Herzegovina is set to improve with the allocation of two Saudi-funded development loans worth $32 million.
The loans target science, technology, and higher education facilities.
The Saudi Fund for Development (SFD) has allocated $19 million for the construction of a Science and Technology Park and $13 million for the development and outfitting of a new student dormitory at the Borisa Starovic Public Institution Student Center in Foca, in the country’s southeastern region.
SFD CEO Sultan Al-Marshad signed the deals with Bosnia’s Minister of Finance and Treasury Srdan Amidzic, in the presence of Saudi Ambassador Osama bin Dakhil Al-Ahmadi.
The new funding builds on nearly three decades of Saudi-Bosnian cooperation.
During this period, the SFD has financed 27 projects through nine concessional loans totaling over $163 million, along with $53 million in grants supporting post-war reconstruction and long-term development.
The Science and Technology Park Project aims to establish a multidisciplinary scientific center covering approximately 200,000 square meters, supporting technological advancement, economic development, health care, and higher education.
The center will serve as a collaborative hub for researchers, scientists, and entrepreneurs across various fields.
The student housing project is intended to strengthen the higher education sector by boosting student enrollment and providing improved accommodation to enhance learning opportunities and support broader community development.
These agreements reflect the SFD’s broader engagement in the Balkans and its commitment to supporting economic and social development in emerging economies.
The loans target science, technology, and higher education facilities.
The Saudi Fund for Development (SFD) has allocated $19 million for the construction of a Science and Technology Park and $13 million for the development and outfitting of a new student dormitory at the Borisa Starovic Public Institution Student Center in Foca, in the country’s southeastern region.
SFD CEO Sultan Al-Marshad signed the deals with Bosnia’s Minister of Finance and Treasury Srdan Amidzic, in the presence of Saudi Ambassador Osama bin Dakhil Al-Ahmadi.
The new funding builds on nearly three decades of Saudi-Bosnian cooperation.
During this period, the SFD has financed 27 projects through nine concessional loans totaling over $163 million, along with $53 million in grants supporting post-war reconstruction and long-term development.
The Science and Technology Park Project aims to establish a multidisciplinary scientific center covering approximately 200,000 square meters, supporting technological advancement, economic development, health care, and higher education.
The center will serve as a collaborative hub for researchers, scientists, and entrepreneurs across various fields.
The student housing project is intended to strengthen the higher education sector by boosting student enrollment and providing improved accommodation to enhance learning opportunities and support broader community development.
These agreements reflect the SFD’s broader engagement in the Balkans and its commitment to supporting economic and social development in emerging economies.
