Three
loan agreements were signed between Mauritius and the Saudi Fund for Development (SFFD) this afternoon in Port Louis.
Signatories
were the Financial Secretary, Mr Dharam Dev
Manraj and the Vice Chairman and Managing Director of Saudi Fund for
Development (SFFD), H.E Dr Khalid S. Alkhudairy.
The Vice Chairman and Managing Director of SFFD, H.E Dr
Khalid S. Alkhudairy, is leading a delegation comprising the Director General
of the Legal Department of SFFD, Mr Mohammed A. Al-Jenaidel and the Director of
the Public Relations Department of SFFD, Mr Faisal S. Al Khashaiban.
The
loan agreements make provision for financing the construction of three priority
projects which are namely the New Cancer Hospital, Social Housing Units and the
Multi Sports Complex and will contribute to the development of the country as
well as enhancing the quality of life of the population.
Cancer
Hospital Project
The SSFD is extending a concessional loan to
Mauritius for the Cancer Hospital Project to the tune of USD 25 million. The project
will help to detect cancer at an early stage and will thus provide the
necessary treatments with a view to saving more lives.
·
Loan period : 20 years
·
Repayment period : 15 years
·
Grace period : 5 years
·
Interest rate : 1 percent per annum
·
Service fee :
No fee
·
Commitment fee
: No fee
Social
Housing Project
A concessional loan of USD 50 million is
being provided by the SFFD for the social housing project to construct some
1050 decent social housing units for the needy class of the population.
·
Loan period : 20 years
·
Repayment period : 15 years
·
Grace period : 5 years
·
Interest rate : 1 percent per annum
·
Service fee :
No fee
·
Commitment fee
: No fee
Multi
Sports Complex Project
A concessional loan to the tune of USD 25
million is being provided for the Multi Sports Complex project in line to
promote the country as a recognised pole of excellence in sports in the Indian
Ocean.
·
Loan period : 20 years
·
Repayment period : 15 years
·
Grace period : 5 years
·
Interest rate : 1 percent per annum
·
Service fee :
No fee
·
Commitment fee
: No fee
Khalid Bin Sulaiman Alkhudairy,
Vice President and Managing Director of Saudi Fund for Development.
He has been serving as Executive Director at the
Board of the World Bank Group, representing Saudi Arabia (EDS22), since
November 1, 2014.
Prior to joining the Bank as an Advisor in 2009, he
served the government of Saudi Arabia in various capacities. Mr. Alkhudairy
held the position of Economic Advisor in the Division of International
Organizations and Financial Institutions, Ministry of Finance (2008 to 2009);
Economist (2002 - 2004), and Accounts Analyst (1993 - 2000) in the Division of
Economic Affairs, Ministry of Finance and National Economy. Furthermore,
Mr. Alkhudairy was a teaching instructor at the Colorado State University, US
(2006 - 2007). From 1989 to 1993, he worked as an accountant and as an auditor
in the Grain Silos and Flour Mills Organization in Riyadh, Saudi Arabia.
In addition to a PhD in Economics, Mr. Alkhudairy
also received a M.A. in Economics from the Colorado State University. He also
holds a B.S. in Accounting from the Administration Science College of the King
Saud University in Riyadh, Saudi Arabia
