Saudi finance ministry approves financing for 12 projects

Saudi Arabia’s ministry of finance has approved finance for 12 health, education and hotel projects with SAR 851 million worth of loans, Saudi Press Agency (SPA) reported.

The total of SAR 2.2 billion was invested in these projects, as the ministry approved to finance 1,370 beds across five health projects over 419,300 square meters in Riyadh, Khobar, Beshah and Abha.

The ministry also approved financing a university in Al-Madinah, built over 13,800 square meters, six hotel and touristic projects with the total area of 56,200 square meters in Al-Kharj, Sharurah, Najran, Tabuk, Jazan and Khobar.

The move comes as part of the government lending program, which aims to develop the services provided to citizens through promoting the private sector’s role in development.

It also aims to support the economy in order to be able to generate diverse employment opportunities, all in-line with Vision 2030, deputy ministry for revenue and supervisor of the local lending program Tariq Al-Shuhaib said.