The Board of Directors of the University Higher Education Fund held its twenty-third meeting. And the fourth for the fiscal year 2016 AD, Under the chairmanship of His Excellency the Minister of Education, Dr. Ahmed bin Mohammed Al-Issa, Membership of the new Board of Directors, which was formed for its sixth session last Muharram.
His Excellency the Secretary-General of the Fund explained, Secretary of the Board of Directors, Dr. Abdullah bin Abdul Rahman Al-Shuwaier said that the Board of Directors took a number of decisions that included approving the financing of six different university projects for approximately thirty million riyals. Approval of the Fund’s annual report for the fiscal year 2015. The Council also approved a number of recommendations regarding the Fund’s investment activities, which aim to enhance returns from the Fund’s investments according to an investment strategy for the next five years, God willing. Dr. Al-Shuwaier pointed out that this trend comes in line with the goals of the Kingdom’s Vision 2030, one of whose goals is to diversify sources of income for government institutions. His Excellency stated that the Fund, since its establishment in 2000, has financed more than five hundred university projects with more than two billion riyals, from which all universities have benefited. He pointed out that the Board of Directors is always keen to make the most of all the resources specified by the Fund’s statute by developing investment projects with a feasible economic return that are primarily beneficial for meeting the financing requirements of universities and diversifying their sources of income.
He concluded his speech by saying that the government of the Custodian of the Two Holy Mosques – may God support him – seeks to advance development projects in the dear homeland, especially the educational system, which has received all care and attention from him – may God protect him -, And His Excellency the Minister of Education, Chairman of Board of Directors, and council members, We are keen to ensure that the Fund supports the sustainability of the programs and initiatives of this system.
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