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53.5 million KM Saudi loan for two projects in RS

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53.5 million KM Saudi loan for two projects in RS

In Foča, another student house will be built with a capacity of 380 seats, within the Student Center “Boriša Starović” in Donji Polje will be financed from the Loan of the Development Fund of the Kingdom of Saudi Arabia, Radio Foča reports.

The Loan Agreement for the construction of the Student Home and the construction of the scientific and technological park in Banja Luka, was signed by the Minister of Finance and Treasury of BiH today, Srdjan Amidžić and the General Manager of the Saudi Development Fund Sultan Bin Abdulrahman El Maršad.

Minister Amidžić said that the construction of another student home in Foča is an extremely important investment in the pride of this municipality, RS and BiH, which promotes the famous wing that young and education are the future of every society.

– The investment is serious for this end, almost 22 million KM based on which we will have an additional 380 seats, which will satisfy the needs when it comes to domestic students, but also to increase the capacities when talking about foreign students. Of the 2,500 students in Foča, 500 are BiH citizens, and that should serve in honor of this Faculty and the University itself – said Amidzic.

The second agreement relates, the Minister Amidžić explained, to the construction of the scientific and technological park in Banja Luka values of about 32 million KM, which will be the backbone of further economic, scientific and cultural growth and development of Republika Srpska.

The General Manager of the Saudi Fund for Development Sultan Bin Abdulrahman El Maršad said that this continues to continue BiH, since 1996. This Fund financed more than 27 investments with more than $ 200 million.

– These are two important projects in the total amount of $ 32 million. The scientific research center will spread to 20 hectares, to gather scientific workers and deal with scientific research, which will contribute to economic and social development. The second project is the expansion of the student home in Foča, which we will hope to ensure a better atmosphere for students and contribute to the quality of student life and education in this city. These are not just ordinary projects and financial investments, but this is a sincere intention and sincere desire to cooperate together in the construction of man and education – said El Maršad.

The municipality of Foča has provided land, the essential permits and project documentation. Its participation in this project is 363,000 KM, written by FENA.

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