Sri Lanka reached a key milestone in its external debt restructuring efforts today with the signing of Bilateral Amendatory Loan Agreements with the Saudi Fund for Development (SFD) in Colombo.
The agreements, amounting to SAR 517 mn (516,951,065.02) restructure loans previously extended by the SFD, marking a major step forward in Sri Lanka’s broader debt recovery framework.
The Kingdom of Saudi Arabia has remained a steadfast partner throughout Sri Lanka’s economic crisis, continuing loan disbursements even after the country declared a debt standstill. This ongoing support has been critical in maintaining momentum on key development projects. The SFD loans, provided on concessionary terms, have also contributed significantly to easing Sri Lanka’s debt burden.
The agreements were signed by Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning, and Economic Development, and Mr. Sultan Abdulrahman A. Almarshad, CEO of the SFD. (Islandnews)
