Press briefing of Cabinet Decision taken on 2012-01-05

Road Network Development Project

- The Development Policy Framework of the Government has identified the necessity of rehabilitation and improvement of National Road Network of the Country on priority basis. Accordingly, on a request made by the Government, the Saudi Fund for Development has agreed to provide Saudi Riyals 225,000,000 (approximately US $60 million) for rehabilitation and improvement of about 144 Km. of the National Road Network of the country. The loan will have a 20 year repayment period including a grace period of 5 years. The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to conduct loan negotiations with the Saudi Fund for development to obtain financial assistance and to enter into a loan agreement for the purpose, was approved by the Cabinet.