Saudi Arabia will provide Kyrgyzstan with a privileged loan of $30.7 million for schools construction

Almaty. May 24. Silkroadnews – Saudi Arabia will provide Kyrgyzstan with a privileged loan to build new schools, TASS reports.

“As the Republic’s Minister of Education and Science Elvira Sarieva said, according to the bilateral agreement Saudi Arabia’s Fund for country development will provide the Kyrgyz side with the privileged loan in the amount of 2.1 billion som (about $30.7 million),” the statement informs.

In the words of the minister, the funds provided will be directed to build 16 educational institutions all over the country, as well as in the cities of Bishkek and Osh, by 2019.

“Loan term to maturity makes 25 years,” E. Sarieva explained.

The Republic’s parliament steering committee on the budget and finance has already “reviewed and approved” the draft loan agreement with Saudi Arabia. Within the nearest time the issue will be submitted for the discussion by all the deputies.