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Saudi Arabia and Bahrain to sign $266mln agreements

Indian labourers work at the construction site of a building in Riyadh November 16, 2014. REUTERS/Faisal Al Nasser

Indian labourers work at the construction site of a building in Riyadh November 16, 2014. REUTERS/Faisal Al Nasser

Reuters/Faisal Al Nasser

18 March 2017
Manama - Saudi Arabia’s ambassador in Manama has said that nine agreements are set to be signed between the two countries on March 19 to carry out projects worth SR1 billion ($266 million) in Bahrain.

Ambassador Dr. Abdullah bin Abdulmalik Al-Shaikh said the projects will be implemented by the Saudi Fund for Development and said the agreements were proof of the strong ties between the two countries. He was speaking in an interview with the Bahrain News Agency (BNA).

The projects cover various sectors such as housing, roads, electricity and water as well as infrastructure.

Al-Shaikh added that a delegation from the Saudi Fund for Development, led by the fund’s Deputy President Yusef bin Ibrahim Al-Bassam, will visit Bahrain on March 18 to attend the signing of the agreements.

He also underlined the role of the Gulf Development Fund in encouraging cohesion between the Gulf Cooperation Council (GCC) member states and joint economic cooperation

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© Arab News 2017
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