Bosnia and Herzegovina – Monday, July 21, 2025

The Chief Executive Officer of the Saudi Fund for Development (SFD), Mr. Sultan bin Abdulrahman Al-Marshad, signed today two development loan agreements with the Minister of Finance and Treasury of Bosnia and Herzegovina, H.E. Dr. Srđan Amidžić. The agreements provide financing for the Construction of a Science and Technology Park Project with a value of USD 19 million, and the Construction and Equipping of an Additional Student Housing Unit at the Borisa Starović Public Institution Student Center in Foča with a value of USD 13 million.

The signing ceremony took place in the presence of the Ambassador of the Custodian of the Two Holy Mosques to Bosnia and Herzegovina, H.E. Mr. Osama bin Dakhil Al-Ahmadi. This occasion marks a continuation of the longstanding development partnership between the two countries, which has spanned nearly 30 years.

The Science and Technology Park Project aims to establish a multidisciplinary scientific center covering a total area of approximately 200,000 square meters, supporting technological advancement, economic development, healthcare, and higher education. The center will serve as a collaborative hub for researchers, scientists, and entrepreneurs across various fields.

The Student Housing Facility Project aims to enhance the higher education sector by encouraging greater student enrollment and providing improved accommodation options, ultimately fostering learning opportunities and contributing to broader community development.

It is worth noting that the Saudi Fund for Development began its development efforts in Bosnia and Herzegovina in 1996, starting with the reconstruction of housing and infrastructure. To date, the SFD has financed 27 development projects and programs through 9 concessional loans exceeding USD 163 million. Furthermore, the Kingdom of Saudi Arabia through SFD, has allocated four generous grants amounting to more than USD 53 million, contributing to sustainable social growth and economic prosperity in Bosnia and Herzegovina.