Further refers to the Twitter Reply (@KSAembassylk) of the Royal Embassy of Saudi Arabia in Sri Lanka to the Statement made by the former Western Province Governor Dr. HemakumaraNanayakkara alleging that the Kingdom of Saudi Arabia is providing loans for Muslims through local Banks.
We would like to inform that, development partners of the Middle East region have been playing a significant role in economic development in Sri Lanka by providing concessional financing facilities taking into account the development priorities of the country.
Especially, the cooperation between the Government of Sri Lanka and the Kingdom of Saudi Arabia was initiated with extending a loan of US$ 30 million for Second Water Sector & Sewerage project in 1981 through the Saudi Fund for Development.
The concessional and fixed financial terms (2% per annum), longer maturity (25 years repayment period with 5 years grace period) as well as the flexible conditions are more profitable to the country.
Ongoing and pipe line projects funded by the Saudi Fund for Development are mutually determined based on the government request.The Saudi Fund for Development has providedconcessional financing for the following projects and we strongly believe that these projectsaresignificant milestones of the relationship between our two countries.
|
|
Project Name |
Agreement Date |
Loan Amount USD Mn. |
|
1 |
Colombo Water Supply and Sewerage Project |
1981.01.08 |
29.72 |
|
2 |
Electric Power Transmission Project |
1981.01.08 |
19.81 |
|
3 |
Mahaweli Ganga Development Project System B Left Bank |
1983.01.03 |
24.71 |
|
4 |
Development of Health Facilities in Colombo Hospital |
2002.07.25 |
12.00 |
|
5 |
Batticaloa – Trincomalee Road Development |
2004.08.26 |
10.70 |
|
6 |
Epilepsy Hospital and Health Centers Project |
2008.03.26 |
20.03 |
|
7 |
Development of Health Facilities in Colombo Hospital – AdditionlFinance |
2008.03.26 |
2.94 |
|
8 |
Kalu Ganga Development Project |
2010.09.15 |
46.06 |
|
9 |
Road Network Development Project |
2012.10.30 |
59.92 |
|
10 |
Improvement of Peradeniya – Badulla – Chenkaladi Road |
2015.10.30 |
59.99 |
|
11 |
Epilepsy Hospital and Health Centers Project – Additional Finance |
2015.10.30 |
11.99 |
|
12 |
Left Bank Development Project in Kalu Ganga |
2017.10.24 |
44.81 |
|
13 |
Wayamba University Township development Project |
2017.10.24 |
27.88 |
|
14 |
Kalu Ganga Development Project – Additional Finance |
2018.07.18 |
15.83 |
|
15 |
Construction of Medical Faculty at the Sabaragamuwa University |
Not yet signed |
50.00 |
Moreover, we would like to extend our appreciation to the people of the Kingdom of Saudi Arabia for continued close collaboration and for the very cordial partnership and support extended to Sri Lanka in implementing development projects for the benefit of the people of Sri Lanka.
Department of External Resources
Ministry of Finance
Colombo 01
Sri Lanka
On 26th July 2019