The Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, received earlier today H.E. Yousef Ibrahim Al-Bassam, Vice Chairman & Managing Director of the Saudi Fund for Development (SFD).
The strong and historical bonds that unite the Kingdom of Bahrain and the Kingdom of Saudi Arabia were hailed during the meeting. The Minister expressed deep gratitude for the Saudi support to the development process in Bahrain, which reflect the unique relations between the leaderships and peoples of the two countries.
He also praised the crucial role of the SFD in the implementation of the Gulf Development Programme, which was previously endorsed by the leaders of the Cooperation Council for the Arab States of the Gulf (GCC).
The SFD manages the $ 2.5 billion grant provided by Saudi Arabia according to the programme. Six agreements with a total value of $ 448 million were already signed with the fund. They cover a wide range of projects in the housing, education, works and electricity & water sectors.