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Saudi Arabia provides US$ 28 mn for Wayamba University Medical Faculty

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Business
The visiting Saudi Arabia delegation

CEO of the Saudi Development Fund, SFD, Sultan bin Abdul Rahman Al-Murshed laid the foundation stone for Sri Lanka Wayamba University development project which includes a medical faculty.

This was under the patronage of Prime Minister Mahinda Rajapaksa. The Rs 5.6 billion ($28 million) project is fully funded by the SFD and the project contributes to support education and learning opportunities for some 5,000 students annually.The estimated cost of the project is US$28 million. The Saudi Fund for Development has agreed to provide the sum as a concessional loan. This project is being implemented at the Kuliyapitiya and Makadura Campuses of the North Western University.Rs.1, 942 million is expected to be spent for the Kuliyapitiya Campus and Rs.1,973 million for the Makadura Campus while another Rs.262 million has been allocated for the purchase of equipment for the existing faculty building complex.The visiting Saudi delegation is led by the SFD CEO Sultanbin Abdul Rahman Al-Murshed which arrived in Colombo on Monday, December 27.

On arrival, Al-Murshed was received by the Saudi Ambassador in Colombo AbdulnasserAl-Harthi and finance ministry officials. CEO, Al-Murshed, is also expected to sign a few MoUs with the government to expand the areas of economic cooperation between the two countries, the statement added.The project is coordinated by the ministry of finance and the SFD through the Saudi mission in Colombo headed by Al-Harthi.

Wednesday, December 29, 2021 – 01:00











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