Sarajevo: The Saudi Fund for Development (SFD) signed two development loan agreements totaling $32 million to enhance social infrastructure in Bosnia and Herzegovina. The agreements were co-signed by Sultan bin Abdulrahman Al Murshid, CEO of the SFD, and Srdan Amidzic, Minister of Finance and Treasury of Bosnia and Herzegovina.

According to Qatar News Agency, the loans will finance two key projects: a $19 million science and technology park and a $13 million construction and furnishing project for student housing at the Borisa Starovic Public Institution in Foca. The Science and Technology Park aims to create a multidisciplinary scientific hub covering approximately 200,000 square meters, focusing on technical fields, economic development, healthcare, and higher education growth. It will serve as a collaborative space for researchers, scientists, and business leaders.

The student housing project is designed to bolster the education sector and promote university enrollment, providing essential opportunities for learning and community advancement. The initiative reflects ongoing efforts to support educational infrastructure and foster academic growth.

The Saudi Fund for Development has been active in Bosnia and Herzegovina since 1996, initially focusing on housing reconstruction and infrastructure. Over the years, the Fund has financed 27 development projects through nine soft development loans amounting to over $163 million. Additionally, the Saudi government has provided more than $53 million in grants via the Fund to aid in the country's social and economic development.