RIYAD: The Saudi Fund for Development on Tuesday inaugurated a road improvement project valued at $ 60 million in Sri Lanka, the Saudi News Agency reported.

The road project, which connects Peradeniya, Badulla to Chenkaladi, aims to develop transport sector infrastructure, reduce death and injury rates from traffic accidents, improve road safety and reduce congestion, and benefit more than 3 million people.

The road is a major link between the eastern and southern provinces and other parts of Sri Lanka, and is essential for the movement of a wide range of agricultural products.

During the opening ceremony, Johnston Fernando, Sri Lankan Minister of Highways, praised the Kingdom’s contributions through the SFD in supporting and developing infrastructure projects in Sri Lanka, adding that these projects are helping to improve social and economic conditions.

Meanwhile, Sri Lankan Prime Minister Mahinda Rajapaksa and the fund’s CEO Sultan Al-Murshed laid the foundation stone for the Wayamba University development project, which the SFD has funded to the tune of $ 28 million.

The second project aims to support teaching and learning opportunities for more than 5,000 students per year, and to improve the quality of education in order to improve economic and social capacity for sustainable growth.

Al-Murshed said the fund works to ensure quality education and well-being for the community, and supports social activities.

The fund is eager to expand education through this project and enable the university to provide support to the community in Kuliyapitiya and Makandura regions, he added.

Rajapaksa met with Al-Murshed and his delegation on the sidelines of their visit to the South Asian island country, to discuss development projects financed by the fund and monitor the progress of their implementation.

The Prime Minister also praised the Kingdom’s contributions to achieve the sustainable development goals.

The delegation visited an epilepsy hospital project, which opened in 2017, and is one of the fund’s projects in the health sector of Sri Lanka, valued at $ 32 million.

The SFD granted 15 development loans to help finance and implement 13 projects in the water, energy, health, roads and education sectors, for a total of 425 million. of dollars.