CEO of Saudi Fund for Development to arrive in Sri Lanka

Chief Executive Officer of Saudi Fund for Development (SFD ) Sultan Al Marshad will visit Sri Lanka today to open US $ 28 million worth ‘Wayamba University Township Development Project’ which was implemented under a grant by the Saudi Government, according to the Saudi Embassy in Sri Lanka.   

Since the beginning of cooperation, SFD has extended 15 development loans to Sri Lanka, totaling approximately US $ 425 million, to support 13 projects across sectors including water, energy, health, roads, and education.   

Among the most prominent projects financed are water and Sewage Treatment Plant in Colombo in 1981 with a loan of US $ 29.7 million, power Transmission project in Colombo the same year with USD 19.8 million, US $ 24.7 million was allocated for the development of the Mahaweli and Kalu Ganga Rivers Project (Phase B), the improvement of hospitals in Colombo with US $ 12 million in 2002, Batticaloa–Trincomalee Road project in 2004 with US $ 10.7 million, US $ 20 million was provided for the Epilepsy Hospital and health centres, US $ 2.94 million in supplementary financing for health projects in Colombo,   

In 2010, the Kalu Ganga Project was funded with USD 46.1 million - In 2012, USD 59.9 million was allocated for the National Road Network, the Peradeniya–Badulla–Chenkaladi Road improvement project received US $ 60 million in 2015, an additional USD 12 million for health sector financing, the development of the northern side of the Kalu Ganga Project in 2017 with US $ 44.8 million.   

Further additional financing for the Kalu Ganga Project was provided in 2018, amounting to USD 15.8 million.   

Additionally, USD 50 million has been allocated for establishing the Faculty of Medicine at Sabaragamuwa University.   

Regarding the Wayamba University Township Development Project, a loan agreement was signed on 24 October 2017 for USD 28 million (equivalent to approximately SAR 105 million) to fund the development of Wayamba University.  

The project aims to expand and enhance educational infrastructure to serve more than 5,000 students, improving the quality of education and strengthening the long-term economic and social capabilities of the surrounding community. The scope of the project includes expanding teaching facilities, upgrading academic infrastructure, and enhancing the university’s appeal as an educational hub in the areas of Kuliyapitiya and Makandura.