During the Joint Arab-Islamic Extraordinary Summit in Riyadh, President Dr Mohamed Muizzu met with Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), to explore ways to deepen the partnership between the Maldives and the Fund. The discussions focused on expanding cooperation and identifying new areas for collaboration.
The talks highlighted ongoing projects supported by the SFD in the Maldives, such as the expansion of Velana International Airport, along with various infrastructure and fisheries initiatives. Both leaders expressed their shared commitment to ensuring the timely completion of these initiatives, recognising their importance for the Maldives’ economic growth and development.
The meeting underscored the importance of the Maldives-SFD partnership, with both parties agreeing to build on their existing cooperation. As the Maldives continues its journey towards economic diversification, this collaboration with the SFD is expected to play a crucial role in achieving the country’s development goals.
The Saudi Fund for Development, established in 1974, is a key financial institution dedicated to providing assistance to developing countries by financing projects in sectors such as infrastructure, energy, and transportation. Its support aims to stimulate sustainable economic growth and improve the quality of life in partner countries. Over the years, the Maldives has been one of the beneficiaries of the SFD’s support, with projects focusing on strengthening essential sectors and fostering long-term economic stability.
As both nations look ahead, this renewed commitment to collaborative efforts signals a promising future for Maldives-Saudi relations in the realm of development.
