Saudi Fund for Development, Sri Lanka sign 2 loan agreements

Saudi Fund For Development (SFD) Adviser Abdullah Al-Shedokhi, left, and R.H.S Samaratunga, secretary to the treasury in Sri Lanka, right, sign the agreements in the presence of Sri Lankan Ambassador Azmi Thassim, standing second right. (AN photo)
Updated 07 April 2017
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Saudi Fund for Development, Sri Lanka sign 2 loan agreements

RIYADH: The Saudi Fund for Development (SFD) signed two loan agreements with Sri Lanka to assist the island nation in two projects.
SFD Adviser Abdullah Al-Shedokhi and R.H.S Samaratunga, secretary to the treasury of Sri Lanka, signed the SR263 million agreement for the Mahaweli Left Bank Basin Development and the Wayamba University/Township Development Project.
Mahaweli Left Bank Lower Basin Development Project is a proposal made by Vijith Vijayamuni Zoysa, minister of irrigation and water resources management, at an estimated cost of $430 million, with the objective of providing irrigated water during two seasons for 4,000 acres of land to include Kinniya and Kantale Trincomalee and the Polonnaruwa districts.
Wayamba University of Sri Lanka (WUSL), which is located at Kuliyapitya and Makandura with easy access from Colombo, Kurunegala, and Kandy, is a modern learning and research institution in Sri Lanka.
According to Sri Lankan Ambassador Azmi Thassim, the SFD has been instrumental in financing several projects in the island. The construction of a bridge, which links the Eastern town of Trincomalee with Kinniya, a Muslim village, is beneficial to some 100,000 people living in Kinniya. The residents were using ferry as their mode of transport to come to Trincomalee, the northeastern capital of the island. The Trincomalee-Batticaloa highway was also widened with the same funds allocated under the agreement.
Earlier, Sri Lanka government signed two loan agreements with SFD to obtain partial financing for the $140 million rehabilitation of the A5 Road corridor from Badulla to Chenkaladi.
The A5 corridor is one of the major highways linking parts of the Central Province to Eastern Province geopolitical zones of the country, which carries the bulk of the traffic between Batticaloa and Peradeniya via Badulla.
Improvements to A5 road corridor from Badulla to Chenkaladi would enhance access to markets and social infrastructure such as schools and hospitals and integrate isolated segments of the rural population into the overall economy, the Finance Ministry said in a short statement on Friday.


King Salman receives outgoing Brazilian Ambassador to Saudi Arabia

King Salman receives outgoing Brazilian Ambassador to Saudi Arabia Flavio Marega in Riyadh on Wednesday. SPA
Updated 24 January 2019
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King Salman receives outgoing Brazilian Ambassador to Saudi Arabia

  • The reception at the Yamamah Palace in Riyadh was attended by Minister of State for Foreign Affairs Adel Al-Jubeir

King Salman received on Wednesday outgoing Brazilian Ambassador to Saudi Arabia Flavio Marega. 

The ambassador paid farewell to the king on the occasion of the end of his term as an ambassador of his country to the Kingdom.

The reception at the Yamamah Palace in Riyadh was attended by Minister of State for Foreign Affairs Adel Al-Jubeir.

Later, King Salman received senior officials of the Ministry of Commerce and Investment, presidents of chambers of commerce, and a number of businessmen.

During the reception, the king stressed the important role of the private sector in achieving development goals in the Kingdom and raising the level of provided services.

The audience was attended by Minister of Commerce and Investment Dr. Majid bin Abdullah Al-Qassabi and Governor of Saudi Standards, Metrology and Quality Organization Saad bin Othman Al-Qasabi.