Jakarta, March 15, 2022, SPA -- The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad and his accompanying delegation, laid the foundation stone for educational and health projects during their visit to the Republic of Indonesia, which the Fund will contribute to financing with soft loans of more than $110 million. These projects included the development of Jakarta State University and Maulana Malik University Ibrahim Malang in East Java, in addition to the establishment of Bankulu University Hospital in the center of the island of Sumatra. During a ceremony held at Jakarta State University, the SFD's CEO laid the foundation stone for the university development project, in the presence of the Saudi Deputy Ambassador to Indonesia Yahya Al-Qahtani, and a number of Indonesian officials. The SFD will contribute with an estimated value of $33 million, as the project consists of the construction of four buildings, with a total area of 37,000 sq., that include educational facilities, classrooms, libraries, galleries, and audio-visual rooms. About 40,000 students will benefit from this project annually, contributing to the continuation of their educational path towards sustainable social and economic development. During the visit, the CEO and the accompanying delegation laid the foundation stone for the Bangkulu University Hospital development project, in a ceremony held in the presence of representatives from the Ministry of Education, Culture, Research and Technology, the Ministry of National Development Planning and a number of officials in Indonesia. The value of the SFD’s contribution to financing this project is about $22 million, which aims to develop the health sector to keep pace with modern health needs and establish qualified and integrated research centers at the university. The project will serve about 328,000 beneficiaries annually, to support and increase the operational capacity of health facilities, improve the level of basic health services, and support specialized medical research centers to contribute in the growth of all the different vital sectors. The SFD delegation will conclude their visit to Indonesia by laying the foundation stone for the second phase of the Maulana Malik Ibrahim Malang University development project, which the Fund contributes to financing with more than $55 million, to support the project raising the capacity from 13,000 students to about 25,000, through the construction of colleges, research centers, university housing, and other facilities. The project aims to achieve quality education and learning opportunities for all, raise the quality of education to enhance the economy's capacity for sustainable growth, and contribute to the development of educational services to increase enrollment rates in university education. Al-Marshad said, "The SFD seeks to support the education and health sectors in Indonesia, as the Fund's support for the development of education in Indonesia comes by laying the foundation stone for two projects. It stems from the belief that it is necessary to support education as one of the most important pillars of development for all societies, in addition to the role of education as a development necessity to build a more prosperous society. While the Indonesia's Secretary-General of the Ministry of Education, Culture, Research and Technology praised the efforts of the Government of the Kingdom of Saudi Arabia, through the SFD, in supporting development projects and programs, especially in the education sector. She renewed her thanks to the CEO and the accompanying delegation on this occasion, and expressed her sincere gratitude for the continuous efforts of the SFD in the development of her country, wishing both countries further growth and prosperity. --SPA 22:02 LOCAL TIME 19:02 GMT 0030 www.spa.gov.sa/w1707721