SFD Invests $50 Million To Construct New Schools In Kyrgyz Republic For Enhanced Education Access

The Saudi Fund for Development (SFD) has entered into a $50 million agreement with the Kyrgyz Republic to initiate Phase II of the Construction of Public Schools Project. This agreement was formalised in a ceremony attended by key figures, including Kyrgyzstan's Minister of Finance, Baketaev Almaz Kushbekovich, and SFD's CEO, Sultan Abdulrahman Al-Marshad.

Phase II aims to construct and equip 14 new schools in both rural and urban areas. Each school will accommodate between 150 and 1,000 students. These institutions will feature well-equipped classrooms designed to create a conducive learning environment for children.

This initiative is expected to generate numerous job opportunities for teachers and educational staff. By doing so, it will strengthen the national education workforce and support local communities. The project highlights SFD's commitment to enhancing educational infrastructure in the Kyrgyz Republic.

Previously, SFD facilitated the construction of 30 public schools across Kyrgyzstan through a $30 million development concessional loan. This effort benefits approximately 50,000 students annually, addressing the growing demand for educational facilities.

Since 2011, SFD has provided 11 development loans to Kyrgyzstan, financing various projects across multiple sectors. The total support amounts to $380 million, including Phase II of the Construction of Public Schools Project.

Apart from educational projects, a $3.8 million grant from Saudi Arabia through SFD has equipped several medical centres. This contribution further aids social development and economic progress in the region.

SFD's ongoing efforts underscore its dedication to supporting Kyrgyzstan's development goals. By investing in education and healthcare infrastructure, SFD plays a crucial role in fostering long-term growth and stability in the country.

With inputs from SPA