Saudi Arabia signs $55m loan deal to help protect schools in Turkiye from earthquakes

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Sat, 2024-02-17 00:54

RIYADH: Saudi Arabia on Friday agreed to provide $55 million in funding for a project to protect five public schools in Turkiye by mitigating the risks posed by earthquakes.

“These schools, encompassing a combined area of up to 55,000 square meters, will undergo vital upgrades to ensure their resilience against earthquakes and contribute toward the advancement of sustainable development,” the Saudi Fund for Development said. The deal will also help to enhance Turkiye’s social infrastructure, it added.

Sultan Al-Marshad, CEO of the Saudi Fund for Development, signed the agreement with Turkish Deputy Minister of Treasury and Finance Osman Celik. (SPA)
Sultan Al-Marshad, CEO of the Saudi Fund for Development, signed the agreement with Turkish Deputy Minister of Treasury and Finance Osman Celik. (SPA)
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