Published: January 3, 2013
The deal takes the form of six agreements with the Saudi Development Fund, which reportedly amount to US$448mn.
The government of Bahrain has reportedly signed six financing agreements worth US$448mn with the Saudi Development Fund. The money will go towards infrastructure projects including the construction of six new schools and 1,560 housing units.
The deal was signed by Bahrain’s minister of finance Ahmed Bin Mohammed Al Khalifa and vice-president and board member of the Fund, Yousif bin Ebrahim Al Bassam. It is the first tranche of a two-year US$500mn deal.