Saudi Fund for Development Signs Two Development Loan Agreements with Maldives
In a significant move, the CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Marshad, inked two crucial development loan agreements with the Maldives’ Minister of Finance, Dr. Mohammed Shafiq, on Friday. These agreements are set to boost the Velana International Airport development project with a whopping $100 million and the healthcare sector development project in the Maldives with a substantial $50 million, all provided by the fund.
Contribution to Hulhulmale Island Development Project
Adding to the buzz, Al-Marshad also took part in the partial inauguration of the Hulhulmale Island Development Project, a project that the SFD is actively supporting through a soft development loan valued at $80 million. The event witnessed the presence of Saudi Ambassador to the Maldives, Matrek bin Abdullah Al-Ajalin, among other distinguished guests.