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Eritrea, Saudi Arabia sign 20m US dollar loan agreement

Feb 08, 2005; BBC Monitoring Service - United Kingdom

Excerpt from report by Eritrean radio on 8 February

The governments of Eritrea and Saudi Arabia today signed a 75m riyal [20m US dollar] loan agreement. The fund will be used for Keren water project. The loan will be paid in 30 years.

The loan agreement was signed by Dr Woldai Fitur, minister for national development and the ambassador of the Saudi Kingdom, Mr Nasir Muhammad al-Rashaida [all names phonetic]. [Passage omitted].

Source: Voice of the Broad Masses of Eritrea, Asmara, in Tigrinya 1700 gmt 8 Feb 05



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