PROJECT

Projects

Summary of Proposed Investment

Project Number

27981

Company Name

RIYAD BANK

Date SPI Disclosed

Apr 8, 2009

Country

Saudi Arabia

Industry

Health, Education and Life Sciences

Projected Board Date

May 18, 2009

Status

Completed

Sector

Colleges, Universities, and Professional Schools

Department

Regional Industry MAS MCT

Environmental Category

C - No Impact

Previous Events

Approved : Jun 22, 2009
Signed : Jan 27, 2010

Project Description

Riyad Bank and IFC are planning to establish a risk-sharing student loans facility in Saudi Arabia. The Facility will be used to provide loans to students who have difficulty affording the tuition fees for their tertiary education, thus providing them with up to five years to pay these fees. This will be the first private student loan financing facility in Saudi Arabia. The student loans originated under the Facility will be funded and serviced by Riyad Bank.

Sponsor / Cost / Location

Development Impact