BUSINESS

Saudi Arabia currently finances Projects worth 75 Million Dollars in BiH

Deputy Minister of Finance and Treasury of BiH Hazim Rancic held a meeting yesterday with a delegation of the Saudi Development Fund led by Abdullah M. Alromeih. The good cooperation between that fund and Bosnia and Herzegovina was emphasized, which is manifested through the portfolio of currently financed projects worth 75 million dollars.

Some of the implemented projects that are of great importance for the population of Bosnia and Herzegovina were also mentioned, such as projects for the reconstruction of housing units for displaced persons, and projects important for the development of infrastructure in many municipalities, education, health.

Also, a Memorandum of Understanding for the Project of Building a Research Institute at the University of Sarajevo School of Science and Technology, which has not yet been implemented, was discussed.

Deputy Rančić informed the delegation of the Saudi Development Fund about the legal procedures for the realization of that project and emphasized that the Ministry of Finance and Treasury of BiH will harmonize all legal obligations within the competence of the ministry in order to conclude and implement it.

He expressed hope that the competent institutions will make adequate decisions in the direction of activating projects, and thanked the Saudi Development Fund for its investments so far and wished to continue investing in the development of Bosnia and Herzegovina, the BiH Ministry of Finance and Treasury said in a press release.

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