Saudi Arabia to provide $300m aid to Sri Lanka

Riyadh – Mubasher: Saudi Arabia has pledged to provide a $300 million aid to Sri Lanka during the coming period, the oil-rich kingdom’s ambassador Abdul Nazar Al Hardi said.

The $300 million aid will be invested in agricultural, education, health, and water sectors, Arabian Business reported, citing Sri Lankan media sources.

This collaboration is expected to boost relationships between the two countries, especially in the tourism sector.

“We are happy to assist Sri Lanka and look forward to strengthening bilateral ties with Sri Lanka,” Al Hardi added.

Sri Lankan airlines operates 18 return flights to Dammam, Jeddah, and Riyadh in a bid to cater to the Sri Lankan expatriate population in Saudi Arabia.

In 2017, Saudi tourists who visited Sri Lanka exceeded 50,000.

It's worth noting that the Saudi Public Investments Fund (PIF), the GCC nation's sovereign wealth fund with $230 billion worth of assets, had previously financed a hospital in Colombo for epileptics which includes 200 beds.

Mubasher Contribution Time: 04-Sep-2018 07:49 (GMT)
Mubasher Last Update Time: 04-Sep-2018 08:00 (GMT)