Saudi Fund Development agrees to provide Rs 3.33 billion soft loan

October 11 : The Saudi Fund for Development (SFD) has agreed to provide concessional loan of Rs 3.33 billion to Nepal with an aim to support the “Programme for Reconstruction of Houses, Health and Educational Facilities in Earthquake Affected Areas.”

Finance secretary Dr Rajan Khanal on behalf of the government of Nepal and the SFD Vice Chairperson Dr Khaled Bin Sulaiman signed the financing agreement today amid an event in the Ministry of Finance in the presence of Finance Minister Dr Yuba Raj Khatiwada.

On the occasion, Dr Sulaiman, also Saudi Fund Development  Managing Director, said it was the Saudi Fund Development’s responsibility to provide assistance to Nepal in need while expressing his happiness at Saudi Fund Development’s efforts to help with the reconstruction campaign launched by the Government of Nepal.