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Saudi Fund for Development boosts Turkish public schools with $55 Million earthquake mitigation project

A group of people sitting at a table signing papers

Turkiye’s public schools are poised for significant enhancements following the approval of a $55 million development loan by the Saudi Fund for Development (SFD). The agreement inked between SFD CEO Sultan bin Abdulrahman Al-Marshad and Turkish Deputy Minister of Treasury and Finance Osman Celik, is aimed at financing a crucial earthquake risk mitigation project.

Signed during the Turkish-Saudi Investment and Business Forum in Istanbul, the agreement focuses on developing and rehabilitating five government schools across an area of approximately 55,000 square meters. This initiative underscores SFD’s commitment to bolstering educational infrastructure and ensuring the resilience of public institutions in the face of natural disasters.

By providing essential equipment and facilities to mitigate earthquake damage, SFD’s financial support aligns with Turkiye’s vision for education, empowering students, and enhancing community resilience. This strategic investment reflects a progressive approach to addressing societal needs and fostering long-term prosperity, as highlighted by the Saudi Press Agency.

Since 1979, SFD has been a vital partner in Turkiye’s development journey, supporting nine projects totaling approximately $300 million. This latest contribution reaffirms SFD’s dedication to advancing key sectors such as education, energy, water, transportation, and communication, laying the groundwork for sustained growth and collaboration between Saudi Arabia and Turkiye.


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