SAUDI FUND SHOWS BALANCED APPROACH TO INVESTMENTS

FOČA, JULY 21 /SRNA/ – The Minister for Scientific and Technological Development and Higher Education of Republika Srpska Željko Budimir stated today in Foča that the Director General of the Saudi Fund for Development Sultan Abdulrahman Al-Marshad has shown a balanced approach regarding investments in the region and BiH.

Budimir stated that the investments coming to Republika Srpska – the expansion of the capacities of the "Boriša Starović" Student Center by 380 places, in addition to the existing 372, will meet the needs of the two faculties in Foča – the Faculty of Medicine and the Theological Faculty.

"This is a project that is not only important for the scientific and research community but also for the local community, confirming Foča as a university center," Budimir said after the Minister of Finance and Treasury in the Council of Ministers Srđan Amidžić and Al-Marshad signed loan agreements for the projects of equipping the Student Center and constructing the Science and Technology Park of Republika Srpska.

He said that around 500 foreign students have enrolled at the Faculty of Medicine in this academic year, adding that this higher education institution is among the leading in terms of the number of foreign students in Republika Srpska and BiH.

Budimir once again thanked the Director of the Saudi Fund, as the conditions for this project were favorable, both in terms of interest rates and repayment period, as well as the grace period.

"I can say that these are the best loan funds we can currently find on the money market," Budimir said.

Regarding the project for the construction of the Science and Technology Park of Republika Srpska, Budimir said it is one of the largest and expressed satisfaction that funds will be obtained under these conditions, since the construction of the innovation ecosystem within Srpska depends on this park, which will branch out throughout Republika Srpska.

According to him, on 8,000 square meters, there will be a meeting point for industry and science, where innovation and excellence will have a special place.

"Young people will have the opportunity to start their own businesses – startups through these projects. I think the Saudi Fund could not have found a better way to invest than in student standards and scientific-research development," Budimir concluded.