VOL. XLV

No 32

12-August-2002

SAUDI ARABIA

AFESD To Take A Stake In Private HealthcareCompany

The Arab Fund for Economic andSocial Development (AFESD) has signed an agreement with the Saudi GermanHospitals Group (SGH) under which AFESD will take a 3% share worth SR20mn($5.3mn) in the Middle East Company for Healthcare, which is being establishedin Saudi Arabia with total capital of SR700mn ($186.7mn). Shares in the companyare closed to the public and will be held by the Islamic Development Bank,...