Publication Date:
Thu, 2002-08-01 03:00
RIYADH, 1 August — The Saudi Development Fund (SDF) has granted two soft loans worth a total of $48 million to China to finance a number of vital projects, SPA reported yesterday.
Saudi ambassador in Beijing Mohammd Al-Bishr handed a letter from the SDF to Chinese Finance Ministry officials stating that the loans had been approved, the report said without specifying the nature of the projects or terms of the loans.
SDF, established in 1975, has so far extended development loans worth $6 billion to finance 330 projects in 63 Arab, Asian, African and Latin American countries.
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