Sri Lanka enters into agreement with Saudi Fund to restructure SAR 517 mn
- CNL Reporter
- July 15, 2025
- Political
- Saudi Fund
- 0 Comments
Sri Lanka entered into a bilateral amendatory loan agreements with Saudi Fund for Development (SFD) to restructure around 517 million Saudi Arabia Riyal (SAR) under the external debt restructuring process of the island nation, the Finance Ministry said.
The Kingdom of Saudi Arabia has played a pivotal role by providing continuous loan disbursements, even after Sri Lanka declared a debt standstill decision due to the economically challenging situation the Ministry said.
“This assistance enabled (us) to achieve the significant progress of the development projects without any hindrances of implementation. Moreover, the loans extended by (the) Saudi Fund for Development were provided on concessionary terms by offering the relief to the country’s overall debt burden,” it said in a statement.
The agreements were signed on Monday and a total restructured amount was Saudi Riyal (SAR) 516,95 million.
Treasury Secretary Harshana Suriyapperuma signed the agreements on behalf of Sri Lanka while Sultan Abdulrahaman A Almarshad, the Chief Executive Officer of the SFD signed the agreements for the SFD.
