SFD to provide $ 66m for two projects in health, edn sectors

The Saudi Fund for Development (SFD), a Saudi government agency that channels bilateral aid to developing countries mainly through grants and soft loans, is likely to provide $ 66 million for two Bangladesh's two development projects in its health and education sectors, reports UNB.

"The SFD is likely to approve $ 30 million assistance for establishing burn units at four medical college hospitals in the country while another $36 million for developing Madrasah education system across the country," ERD Additional Secretary Md Salim Reza told the news agency.

He said the SFD in its Board of Directors meeting in December next is likely to approve the funds for the two projects.

Reza said once a $30 million fund is approved, it would be used to set up burn units at Rajshahi, Rangpur, Sylhet and Barisal Medical College hospitals alongside another at Madaripur district hospital.

Besides, the ERD Additional Secretary said, the SFD is also likely to approve $36 million for setting up smart classrooms for IT and Arabic language to improve Madrasah education system throughout the country.

The ERD (Economic Relations Division) formally sent official letters to Saudi Fund seeking funds for both the projects on July 29.

The SFD is also likely to provide $ 15 million as additional financing to its original financing of $53.34 million for the ongoing construction work of Mouchak-Mghbazar flyover project upon request from the government. Besides, the OPEC Fund for International Development (OFID) would provide another $ 6 million for this flyover project in addition to their original financing of $ 28 million.

The ERD official said a SFD mission, headed by senior specialist Abdullah Al Shdukhi, visited the country on May 26-30, and reviewed the implementation progress of the Saudi-assisted projects alongside ensuring funds for the two proposed projects.