The Saudi Fund for Development’s CEO, Sultan bin Abdul Rahman Al-Marshad, and his accompanying group launched the Peradania-Badulla-Chinkaladi road rehabilitation project in the Republic of Sri Lanka on Tuesday, in the presence of Sri Lanka’s Minister of Highways, Johnston Fernando.
The fund contributed a total of $60 million to its financing, as the project contributes to the development of transportation infrastructure, the reduction of traffic-related deaths and injuries, the improvement of road safety, and the reduction of traffic jams, which will benefit about three million people.
During the opening ceremony, Johnston praised Saudi Arabia’s contributions through the Saudi Fund for Development in supporting and developing infrastructure projects in the Republic of Sri Lanka, noting that these projects are vital to the lives of many beneficiaries and contribute to improving social and economic conditions.
In the presence of His Excellency the Ambassador of the Custodian of the Two Holy Mosques to the Republic of Sri Lanka Abdul Nasser Al-Harthy, the Minister of Education of Sri Lanka Dinesh Gunawardena, and the President of the University of Weyamba PGC Sanjiwa Bwata, the Prime Minister of Sri Lanka Mahinda Rajayaksha and CEO of the Fund Sultan Al-Murshed laid the foundation stone for the project to develop the area.
“The Fund’s contributions to the financing of the project to improve this road came from its role in supporting the paths of social and economic development, as this project is a major link between the provinces of the East and South Central and other regions in Sri Lanka, in addition to the transfer of agricultural products between areas within the scope of the project, to contribute to the achievement of the sustainable development goals,” said the Fund’s CEO.
“The fund seeks to contribute to the goal of excellent education by supporting social activities, driving upward economic routes, and attaining communal well-being,” Al-Marshad stated.
The foundation also hopes that this initiative would broaden educational horizons and enable the institution to help the community in the Coliapitia and Makandura districts. As one of the most current projects in the development of higher education systems in Sri Lanka, the Fund’s commitment to the project for the construction of the University of Wiamba region.”
It is worth mentioning that, in recent years, the Saudi Fund for Development has awarded 15 development loans totaling $425 million to help finance and construct 13 projects in the water, energy, health, roads, and education sectors.