Riyadh – Mubasher: The board of directors of the Saudi Higher Education Fund (HEF), led by its chairman and Saudi minister of education Ahmed bin Mohammed Al Issa, has approved financing five projects for four Saudi universities at total investments worth SAR 26 million.
The new projects are part of the HEF’s scheme to support vital higher education projects, a statement released on Saturday indicated.
The HEF’s board also approved the concluding statements and report for fiscal year 2016, which showed a 200% growth in profits for the HEF, compared to 2015.
Over the past year and a half, the HEF has financed dozens of projects, exceeding a combined value of SAR 152 million, HEF undersecretary Abdullah bin AbdulRahman Al Shweir said.
He added that the fund had also carried out an administrative and investment restructure, allowing it to bolster its communication channels with other HEF members.
