5 July 2019 01:12 am Views - 2888
While denying reports that Saudi Arabia was providing loans for Muslims through some local banks at the interest rate of one percent, the Saudi Embassy asserted that the soft loans had been provided by the Kingdom for the development projects in Sri Lanka, and they were intended to be contributions to provide a quality of life for ‘the friendly people of Sri Lanka’.
Saudi Arabia has provided soft loans amounting to US $ 408.72 million. The embassy also listed the following projects that the Saudi Government has financed.
The projects are the Colombo Water Supply and Sewerage (US $ 26.64 million), Electric Power Transmission (US $ 2.83 million), Mahaweli Ganga Downstream Development System “B” Left Bank (US $ 22.66 million), Medical Services Development in Colombo (US $ 14.93 million), Batticaloa – Tricomalee Road Development (US $ 10.66 million), Epilepsy Hospital and Health Center (US $ 32 million), Kalu Ganga Development (US $ 46 Million), Road Network Development (US $ 60 Million), Improvement of Peradeniya – Badulla – Chenkaladi Road (US $ 60 million), Development of Left Bank of Kalu Ganga (US $ 45 million), Development of Wayamba University(US $ 28 million), Medical Faculty of Sabaragamuwa University (US $ 50 million).