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Sun 19 Mar 2017 01:23 PM

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Saudi to sign deals with Bahrain worth $533mln

Part of the efforts by the members of the GCC to drive development

Saudi to sign deals with Bahrain worth $533mln

Saudi Arabia will sign nine agreements with Bahrain on funding projects worth SAR2 billion (US$533 million) in the housing, roads, water, electricity and other infrastructure sectors in Bahrain, Saudi Ambassador to Bahrain Dr Abdullah bin Abdulmalik Al Al-Sheikh announced, the state Bahrain News Agency (BNA) reported.

The projects will be funded by grants from Saudi Arabia, as part of the efforts by the members of the Gulf Cooperation Council to drive development in Bahrain, he said.

On 14th June, 2015, the Saudi Fund for Development signed four agreements with Bahrain giving a grant of $760 million to fund Bahrain's infrastructure development.