Sri Lanka signs key debt restructuring deal with Saudi Fund for Development

Tuesday, 15 July 2025 02:40 - - {{hitsCtrl.values.hits}}

Sri Lanka yesterday marked a significant milestone in its external debt restructuring process with the formal signing of Bilateral Amendatory Loan Agreements with the Saudi Fund for Development (SFD), restructuring over SAR 516 million (approximately over Rs. 41 billion) in loans.

Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma signed the agreements on behalf of the Government of Sri Lanka and SFD Chief Executive Officer Sultan Abdulrahman Al-Marshad signed the agreements on behalf of the Kingdom of Saudi Arabia.

“The conclusion of the loan restructuring agreements will certainly pave the way to developing further the deep and longstanding bilateral relationships between the Kingdom of Saudi Arabia and the Government of Sri Lanka,” the Finance Ministry noted in a statement.

In addition, the high-level delegation of the SFD participated in the ceremonial opening of the ‘Wayamba University Township Development Project’ funded by the SFD during this visit.