Bahrain, Saudi Fund ink two $25m financing deal

Bahrain, Saudi Fund ink two $25m financing deal

Two US$25 million Financing Grant Agreements were signed yesterday between the Government of Bahrain and the Saudi Fund for Development. The amount came within the implementation of Phase III of the share of Saudi Arabia (US$2.5 billion) in the Gulf Development Programme.

The agreements were signed by Shaikh Ahmed bin Mohammed Al Khalifa, the Minister of Finance, and Khalid bin Sulaiman Al Khudairi, Vice President and Board Member, on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund in Bali, Indonesia. The first agreement provides US$14.4 million to finance a new 2.8 km access road to ‘Lawzi Housing Scheme’ along with developing 4 intersections. More than 30 thousand residents will benefit from the project, which will reduce traffic congestion and enhance the efficiency of the intersections.

The second agreement is basically an amendment to the previous one signed between the two sides on 24th March 2014, on the financing of the project for the establishment of the Long Stay Care Centre, Muharraq, raising the amount of funding for the project by US$10.6 million to a total value of US$47.6 million. With a capacity of 100 beds, the project involves the construction of a fully equipped health centre for long-term conditions.




Olympic Academy winds up CPR course

Olympic Academy winds up CPR course

Twenty-seven sports officials of different sports clubs and federations attended Cardiopulmonary Resuscitation (CPR) course, organized by the Bahrain Olympic Committee’s (BOC) Bahrain Olympic Academy. This two-day event was organ

Injaz Bahrain gets CSR award

Injaz Bahrain gets CSR award

INJAZ Bahrain was honoured with the Bahrain international CSR award for its dedication in addressing fundamental and social economic challenges of youth in the Kingdom. The award was presented during the opening ceremony of the Bahrain


Sri Lanka reverses $300m housing deal

Sri Lanka reverses $300m housing deal

Sri Lanka has reversed a decision to award a $300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour.