COLOMBO : A High-level delegation headed by the Chief Executive Officer of the Saudi Fund for Development (SFD) Sultan Abdulrahman A Almarshad arrived in Sri Lanka on Sunday, 13th July to participate in the ceremonial opening of the Wayamba University Township Development Project at the university in Kuliyapitiya.
Almarshard is to sign the Loan Restructuring Agreements on 14th July.
According to Saudi ambassador ,Khalid Humoud Alkahtan, the Saudi Fund for Development (SFD) has provided USD approximately 28 Mn (SAR 105 Mn) for this project.
The Opening Ceremony is scheduled to be held on 14th at 9.00 a.m. at Makandura and Kuliyapitiya premises of the University. Deputy speaker Dr Rizwi Saleh is also slated to be present at the event.
Sri Lankan ambassador in Riyadh Ameer Ajwad who coordinated the visit with the Saudi embassy further stated that a Loan Structuring Agreement between the Saudi Fund for Development and the Ministry of Finance of Sri Lanka will also be signed during the visit of this high level SFD delegation. The delegation is also expected to meet with President Anura Kumara Disanayake during the visit.
The Saudi Fund for Development has provided a total amount of concessional soft loan assistance worth of approximately 1.5 billion Saudi Riyals (US $ 438 Million) as development assistance to Sri Lanka over the decades. Fifteen (15) different development projects including Colombo Water Supply and Sewerage Project (1981), Kinniya bridge the longest bridge in Sri Lanka, Nero Trauma unit at the Colombo national hospital, Kalu Ganga Development Project, Medical Faculty for Sabragamuwa University, Wayamba University Township, Peradeniya – Badulla – Chenkaladi Road were funded by the SFD under their global development assistance programme. The SFD’s contributions continue to play a crucial role in advancing key development projects in Sri Lanka. SFD did not suspend disbursement of its funds to Sri Lanka despite the recent economic downturn in Sri Lanka. Ambassador Ameer Ajwad added.
