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Saudi Fund for Development (SFD) had fielded a mission in Sri Lanka during 27th February to 1st March 2019 to review the progress of SFD funded projects. During the mission, SFD officials had project review discussions on following SFD funded projects,

  • Epilepsy Hospital and Health Centers Project
  • Kalu Ganga Development Project
  • Road Network Development Project
  • Badulla – Chenkaladi Road Improvement Project
  • Left Bank Development Project in Kalu Ganga
  • Wayamba University Township Development Project

Further, SFD has agreed to provide Saudi Riyal 187.5 million (USD 50 Million) for the Establishment of Medical Faculty for the University of Sabaragamuwa and Loan Negotiation will be held on April this year. The proposed project will increase the opportunity for talented advanced Level qualified students to enter the National University system.

Since, there is a continued close collaboration and very cordial partnership between two countries, SFD has agreed to provide more financial assistance to enhance the economic development of Sri Lanka by implementing development projects for the benefit of the people of Sri Lanka.

 

The loan negotiations for Support to Colombo Urban Regeneration Project and Reduction of Landslide Vulnerability by Mitigation Methods Project were successfully concluded between the representatives of the Government of Sri Lanka and Asian Infrastructure Investment Bank at the AIIB Headquarters at Beijing, China on 21 and 22nd of February 2019. AIIB will provide loan facilities of USD 200 million and USD 80 million for the Colombo Urban Regeneration Project and Reduction of Landslide Vulnerability by Mitigation Methods Project respectively. Urban Development Authority (UDA) and the National Building Research Organization (NBRO) will implement the projects as the first two projects implemented with the financial assistance of AIIB.  

 

 

In line with the Government of Sri Lanka’s policy to increase the number of Police Station to 600 with the view to further strengthen the public security, law and order of the country, the government has taken a policy decision to Purchase of 750 Nos Jeeps for Sri Lanka Police (including 150 Nos Jeeps for Special Task Force). The decision has been approved the cabinet of ministers’ for implementation. The financing arrangement for this project has been made with the Government of India through utilization of concessionary funding available in an existing Indian Line of Credit. Accordingly, USD 20 million will be utilized from the above credit line for the procurement of 750 jeeps. At the moment, the prequalification process has been started prior to commence the tendering process.

 

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