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- The agreement reflects the Saudi fund鈥檚 commitment to supporting developing countries overcome obstacles to progress
RIYADH: CEO of the Saudi Fund for Development Sultan Al-Marshad signed an $80 million development loan agreement with Rahimberdi Jepbarov, chairman of the Turkmenistan State Bank for Foreign Economic Affairs.
The financing supports a project to improve tumor treatment services and establish cancer treatment centers in Turkmenistan, the Saudi Press Agency reported.
Saudi Ambassador to Turkmenistan Said Osman Suwaid attended the event.
The project will enhance healthcare by building and equipping three specialized cancer treatment centers with up to 500 medical beds in different regions.
The centers will feature advanced medical equipment to improve healthcare quality, SPA added.
The agreement reflects the Saudi fund鈥檚 commitment to supporting developing countries overcome obstacles to progress.
It underscores the importance of international cooperation in achieving sustainable development and ensuring lasting prosperity, SPA reported.
During his visit to Turkmenistan, Al-Marshad also met with Deputy Chairman of the Cabinet of Ministers and Foreign Minister Rashid Meredov to discuss strengthening development cooperation in various sectors.
Meanwhile, the Saudi fund鈥檚 Deputy CEO Faisal Al-Qahtani participated in the inauguration of the Busaiteen Bridge, part of the Bahrain Northern Road Project.
The $250 million project, funded through a grant from the Saudi government, aims to ease traffic congestion and boost investment and economic opportunities in Bahrain.
Bahrain鈥檚 Deputy Prime Minister Sheikh Khalid bin Abdullah Al-Khalifa attended the event.
The project is a vital part of Bahrain鈥檚 transportation infrastructure, with the Saudi fund collaborating closely with the Ministry of Works for its successful completion.
The Saudi fund鈥檚 partnership with Bahrain spans 48 years, during which it has financed 30 projects in sectors like energy, transportation, and social infrastructure. These initiatives have contributed to Bahrain鈥檚 sustainable development and economic growth.