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Mauritius signs three loan agreements with Saudi Fund for Development

Date: October 22, 2018
Domain:Economy & Finance
 

 

Three loan agreements were signed between Mauritius and the Saudi Fund for Development (SFFD) this afternoon in Port Louis.
Signatories were the Financial Secretary, Mr Dharam Dev Manraj and the Vice Chairman and Managing Director of Saudi Fund for Development (SFFD), H.E Dr Khalid S. Alkhudairy.
The Vice Chairman and Managing Director of SFFD, H.E Dr Khalid S. Alkhudairy, is leading a delegation comprising the Director General of the Legal Department of SFFD, Mr Mohammed A. Al-Jenaidel and the Director of the Public Relations Department of SFFD, Mr Faisal S. Al Khashaiban.
The loan agreements make provision for financing the construction of three priority projects which are namely the New Cancer Hospital, Social Housing Units and the Multi Sports Complex and will contribute to the development of the country as well as enhancing the quality of life of the population.
 
Cancer Hospital Project
 
The SSFD is extending a concessional loan to Mauritius for the Cancer Hospital Project to the tune of USD 25 million. The project will help to detect cancer at an early stage and will thus provide the necessary treatments with a view to saving more lives.
 
Social Housing Project
 
A concessional loan of USD 50 million is being provided by the SFFD for the social housing project to construct some 1050 decent social housing units for the needy class of the population.
 
Multi Sports Complex Project
 
A concessional loan to the tune of USD 25 million is being provided for the Multi Sports Complex project in line to promote the country as a recognised pole of excellence in sports in the Indian Ocean.

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