Saudi Fund for Development's Chief Executive Officer Sultan Abdulrahman Al-Marshad has paid a courtesy call on President Dr Mohamed Muizzu today.
Saudi Fund for Development's Chief Executive Officer Sultan Abdulrahman Al-Marshad has paid a courtesy call on President Dr Mohamed Muizzu today.
In a ceremony held this morning, the President also presented Saudi Fund CEO Marshad with the Order of the Dignified Rule of Muleege Dynasty.
The honour was presented in appreciation of Marshad's exceptional leadership and the Saudi Fund's continued support towards Maldives' development and progress.
At the meeting, President Muizzu highlighted the support extended by Saudi Fund towards the Velana International Airport expansion project, as well as other developmental projects in the country within the health sector, housing and other infrastructural initiatives.
Both the President and the CEO expressed a keenness to continue strengthening relations and collaboration, and emphasized a shared dedication towards achieving impactful development outcomes.
An agreement was also signed with the Saudi Fund today under which they are extending an additional loan of USD 17 million (MVR 262 million) for the Velana International Airport expansion project.
Over the past years, Saudi Fund has extended 17 loans to the Maldives, amounting to USD 488 million (MVR 7.5 billion).
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