President Muizzu holds talks with Saudi and OFID Fund heads on development cooperation

President Dr Mohamed Muizzu met with two international development partners today, as part of high-level engagements during the Maldives’ 60th Independence Day celebrations.

President Muizzu received Sultan bin Abdulrahman Al-Murshid, CEO of the Saudi Fund for Development (SFD), and Dr Abdulhamid Alkhalifa, President of the OPEC Fund for International Development (OFID), at the President’s Office.

Both delegations were in Male' to witness the inauguration of the new terminal at Velana International Airport.

During separate meetings, President Muizzu expressed gratitude for their presence and long-standing support, particularly in relation to the VIA development project.

Al-Murshid conveyed appreciation for the invitation to take part in the milestone event and noted that the Saudi Royal Court had followed the airport project’s progress closely.

The two sides discussed expanding cooperation in key areas such as housing, fisheries, and health.

In his meeting with Dr Alkhalifa, the President thanked OFID for its nearly five-decade-long partnership with Maldives. Discussions focused on potential collaboration in climate change adaptation, renewable energy, water and sanitation, and broader infrastructure development.

Both Al-Murshid and Alkhalifa reaffirmed their organizations' commitment to supporting the Maldives’ future development.

The Saudi Fund for Development contributed USD 217 million (MVR 3.3 billion), making it the largest financier of the project. The Kuwait Fund extended USD 100 million (MVR 1.5 billion), while the OPEC Fund for International Development (OFID) provided USD 50 million (MVR 771 million). The Abu Dhabi Fund also contributed USD 90 million (MVR 1.4 billion).

The total cost of the terminal project stands at USD 457 million (MVR 7 billion), making it one of the largest infrastructure investments in the country’s history.