Kingdom finances development projects in Sri Lanka, Maldives

March 29, 2008

The Saudi Fund for Development (SFD) recently signed agreements to fund development projects in Sri Lanka and the Maldives.

The SFD signed two agreements with Sri Lanka. The first provides $20 million [SR75 million]  to construct an epilepsy hospital and diagnostic centers. The second loan, worth $2.5 million [SR11 million], will finance a healthcare development project in Colombo as well as a nerve trauma project. To date, the SFD has extended $107.8 [SR404 million] in loans to Sri Lanka.

According to an agreement with the Maldives, the SFD will fund $55.5 million [SR208.1 million] in development projects for reconstruction in areas impacted by tsunami.