The Saudi Fund for Development (SFD) has inaugurated the completion of the Peradeniya-Badulla-Chenkaladi Road Project in the Democratic Socialist Republic of Sri Lanka, with a loan worth $60 million.
The projects, inaugurated by Mr. Sultan bin Abdul Rahman Al Marshad, CEO of SFD, will benefit three million people in the surrounding areas and will strengthen the country’s transport infrastructure, reduce traffic-related fatalities and injuries, and improve road safety.
The road connects the eastern, middle, and southern provinces, promoting sustainable development goals, and increasing agricultural goods transportation.
The ceremony was attended by Mr. Johnston Fernando, Minister of Highways, Saudi Ambassador to Sri Lanka, Mr. Abdul Nasser bin Hussain Al-Harthi, SFD delegation and a number of Sri Lanka government officials.
Mr. Johnston Fernando praised the efforts of the Kingdom, through the SFD, for supporting and developing infrastructure projects in Sri Lanka. Mr. Fernando added that the projects would benefit many people economically and socially.
Mr. Al Marshad and Sri Lanka’s Prime Minister, Mr. Mahinda Rajapaksa, also laid the foundation stone for a $28 million extension of the Wayamba University Township Development Project, funded by the SFD. More than 5,000 students will benefit from the project which will improve teaching and learning facilities, boost educational quality, and strengthen long-term economic and social capabilities.
Sultan bin Abdul Rahman Al-Marshad CEO – SFD
“SFD seeks to contribute to the quality of education to support social activities, move upward economic paths, and achieve community well-being. The SFD also looks forward to opening the horizons of education through this project and enabling the university to support the community in the regions of Kolyabitia and Makandura.”
These initiatives reflect SFD’s commitment to investing in transport and education as means of building economic progress and prosperity. Since its inception, it has contributed to 226 development projects in the transportation sector on a global level, as well as 77 projects in education, providing socio-economic support to developing nations.
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