RIYADH: The Saudi Fund for Development on Tuesday inaugurated a road improvement project valued at $60 million in Sri Lanka, the Saudi Press Agency reported.
The road project, which runs from Peradeniya, Badulla to Chenkaladi, aims to develop the infrastructure of the transport sector, reduce the death rates and injuries caused by traffic accidents, improve road safety and reduce traffic jams, and benefit more than 3 million people.
The road is a major link between the eastern and southern provinces and other regions in Sri Lanka, and is essential to the movement of a wide range of agricultural products.
During the opening ceremony, Johnston Fernando, Sri Lankan minister of highways, praised the Kingdom’s contributions through the SFD in supporting and developing infrastructure projects in Sri Lanka, adding these projects contribute to improving social and economic conditions.
Meanwhile, Sri Lankan Prime Minister Mahinda Rajapaksa and the fund’s CEO, Sultan Al-Murshed, laid the foundation stone for the Wayamba University development project, which the SFD funded with $28 million.
The second project aims to support teaching and learning opportunities for more than 5,000 students annually, and raise the quality of education to enhance the economic and social capacity for sustainable growth.
Al-Murshed said the fund works to achieve quality education and community well-being, and supports social activities.
The fund is looking forward to developing education through this project and enabling the university to provide support to the community in the Kuliyapitiya and Makandura regions, he added.
Rajapaksa held talks with Al-Murshed and his delegation on the sidelines of their visit to the South Asian island nation, to discuss the development projects financed by the fund and follow up on the progress of their implementation.
The prime minister also praised the Kingdom’s contributions to achieve sustainable development goals.
The delegation toured an epilepsy hospital project, which opened in 2017, and is one of the fund’s projects in Sri Lanka’s health sector valued at $32 million.
The SFD has provided 15 development loans to help finance and implement 13 projects in the water, energy, health, roads and education sectors, with a total of $425 million.
