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22 Million USD secured for the Construction of the University Library

13181054_1768079226762087_603560533_nBiH and the Kingdom of Saudi Arabia signed memorandums of support of the Saudi Fund for development of the University Library in Sarajevo and the Municipality of Gorazde.

The first memorandum will enable the realization of the Saudi grant in the amount of 22 million USD for construction of the University Library in Sarajevo, with the area of about 11,000 m2. The money is intended for external and internal construction works, furnishing and adjustment of the Library.

Construction will be very important for the academic community, especially for the 35,000 students who will have the necessary conditions for successful studies.

The second memorandum refers to the favorable loan of the Saudi Fund for development of 6 million USD for infrastructure in Gorazde – rehabilitation of secondary water supply network, construction of the bridge over the Drina River in the village Vitkovici, and the modernization of local and unclassified roads and town streets. The loan repayment period is 25 years with grace period of 5 years, and the fixed costs of loans are 2 % annually.

With rehabilitation of water supply network losses greater than 60 % will be avoided, which are currently making great financial losses to the municipality. The construction of the bridge in Vitkovici will connect this village with the rest of the municipality, while the modernization of roads will facilitate the movement of people and goods.

After signing two memorandums, Minister Vjekoslav Bevanda emphasized that newly built object of the University Library in Sarajevo will have a great importance because it involves investment in education and conditions for 35,000 students. The building will enable the achievement of the highest standards in higher education and it will be used by young people, their teachers and future academics.

Signing of two memorandums is, according to him, continuation of everything that Saudi Arabia have done for BiH. With gratitude, Bevanda stated that several projects have been successfully implemented with the help of the Saudi Fund for Development so far.

(Source: sa-c.net)

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