Sri Lanka receives US$ 73 mn loan from Saudi Arabia

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Sri Lankan Government has signed two agreements to the tune of US$ 73 million with the Saudi Arabian Fund for Development (SFD) to provide a concessional loan to upgrade the higher education and irrigation and water resources management sectors, the Finance ministry said in a statement.

SFD will provide US$ 28 million for the Wayamba University Township Development project. This project is designed to develop academic facilities and infrastructure of the university as well as re enforce the livelihood of the people who live in the immediate surrounding area of the university.

The SFD has also agreed to provide a concessional loan of US$ 45 million to implement the Kalu Ganga Left Bank Development project.