President Dr Mohamed Muizzu has today bestowed a Medal of Honour to the Chief Executive Officer of the Saudi Fund for Development Sultan bin Abdul Rahman Al-Marshad.
President Dr Mohamed Muizzu has today bestowed a Medal of Honour to the Chief Executive Officer of the Saudi Fund for Development Sultan bin Abdul Rahman Al-Marshad.
He was presented the Order of Dignified Rule of the Muleege Dynasty, the third highest honour conferred in the Maldives.
The Order of the Dignified Rule of the Muleege Dynasty commemorates the rule of Sultan Muhammad Shamsuddin.
The CEO was presented with the Medal of Honour at a special ceremony held at the President's Office this morning.
The honour was presented in recognition of the continued support extended by the Saudi Fund to Maldives' development.
The Saudi Fund has over the years extended extensive support towards development projects in the Maldives. Amongst these is the continued aid provided for the development of the Velana International Airport over the past decades, including in 1978, 1981, 1992, 1999, 2016 and 2024.
During the present visit, the Saudi Fund CEO will be signing an agreement to extend an additional loan of USD 17 million for the development of the new terminal at Velana International Airport. This is the second such loan being extended by the Fund for this project.
The Saudi Fund has now extended USD 470 million (MVR 7.2 billion) for 16 major projects in the Maldives.
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