Saudi Fund extends Rs 3.4b soft loan for quake recovery

Published On: October 12, 2019 07:52 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 12: The Saudi Development Fund (SDF) has extended Rs 3.4 billion in soft loan to Nepal to carry out the remaining reconstruction work of private houses, academic institutions and health centers that were destroyed in the 2015 earthquakes.

An agreement to this effect was reached between Finance Secretary Rajan Khanal and Vice Chairman of SDF Khalid bin Sulaiman Al-Khudairy amid a special function organized at Singha Durbar on Friday. Finance Minister Yubaraj Khatiwada was present during agreement signing. 

Speaking on the occasion, Finance Secretary Khanal thanked Saudi Arabia for extending the soft loan. Also speaking on the occasion, SDF Vice Chairman Al-Khudairy said it was the responsibility of a friendly country to help another country in need.

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