His Excellency President Dr Mohamed Muizzu has reaffirmed the Maldives’ longstanding development partnership with the Kingdom of Saudi Arabia during a meeting with His Excellency Sultan Abdulrahman Al-Marshad (O.D.R.M.D), Chief Executive Officer of the Saudi Fund for Development (SFD), as both sides expressed their commitment to expanding cooperation across key areas of national development.
Al-Marshad paid a courtesy call on President Dr Muizzu on Tuesday afternoon at the Official Residence of the President, Mulee’aage, accompanied by a delegation from the Saudi Fund for Development. The meeting provided an opportunity to review decades of development cooperation between the Maldives and the Fund while discussing prospects for strengthening the partnership in support of the country’s future development priorities.
President Dr Muizzu warmly welcomed Al-Marshad and his accompanying delegation to the Maldives and expressed sincere appreciation to the Saudi Fund for Development and the Government of the Kingdom of Saudi Arabia for the continuous assistance extended to the country throughout its development journey. Saudi Arabia has remained an important development partner of the Maldives for several decades, supporting projects that have contributed to infrastructure development, connectivity, essential services and broader socioeconomic progress.
During the discussions, Al-Marshad highlighted the strong strategic partnership between the Saudi Fund for Development and the Maldives and emphasised the importance the Fund places on further strengthening a relationship built over several decades. The discussions reflected the continuing engagement between the Maldivian Government and its international development partners as the country works to advance infrastructure, improve public services and create stronger foundations for sustainable economic growth.
The Saudi Fund for Development’s cooperation with the Maldives dates back to 1978, giving the partnership a history of nearly five decades. Over that period, the Fund has provided approximately USD 488 million in concessional development financing to the Maldives. Its support has covered major sectors including transportation, water and sanitation, healthcare, infrastructure and other areas considered important to the country’s economic and social development.
According to the Saudi Fund for Development, its assistance to the Maldives has included 17 development loans supporting 14 projects and programmes. These investments have helped address some of the particular development requirements faced by an island nation where communities are dispersed across a large geographical area and where reliable transport, modern infrastructure and access to essential services play an important role in supporting economic activity and improving living standards.
One of the major areas of Saudi development financing in the Maldives has been aviation and transport infrastructure. The Fund’s financing for the development and expansion of Velana International Airport has reached USD 217 million, supporting improvements designed to substantially increase the airport’s passenger-handling capacity and operational efficiency. The airport remains the Maldives’ principal international gateway and a central component of the country’s connectivity with global markets, making its continued expansion significant for tourism, trade, investment and wider economic activity.
The expanded airport infrastructure is designed to accommodate up to seven million passengers annually, while preparations within the development programme are also intended to support future expansion capable of serving as many as 15 million passengers. Improving international aviation capacity is particularly important for the Maldives because of the central role that tourism and international connectivity play in the national economy, while stronger airport infrastructure also supports business travel, investment and the movement of people and goods.
Saudi development assistance has also extended to housing. A USD 25 million concessional development loan from the Saudi Fund for Development is financing an affordable housing project intended to provide more than 400 integrated housing units for over 2,700 beneficiaries. The project incorporates essential infrastructure and services and is designed to provide suitable living conditions while strengthening the resilience of communities to environmental challenges.
The broad portfolio of Saudi-funded projects demonstrates the long-term nature of cooperation between the two countries and the emphasis placed on projects capable of supporting both economic development and improvements in quality of life. For the Maldives, access to concessional development financing remains important for implementing large-scale infrastructure projects while managing the particular financial and geographical challenges associated with development across dispersed islands.
President Dr Muizzu and Al-Marshad reflected during Tuesday’s meeting on the extensive development footprint established by the Saudi Fund for Development across the Maldives over the past several decades. Both sides reiterated their mutual interest in building upon this foundation and expanding ongoing cooperation, signalling continued engagement on development initiatives that can support the Maldives’ national priorities.
The meeting also highlights the Government’s continued engagement with international and regional development institutions as it seeks financing, technical cooperation and partnerships for projects that strengthen the country’s infrastructure and economic capacity. Cooperation with longstanding partners such as the Saudi Fund for Development provides an avenue for advancing projects in sectors that require substantial long-term investment and that have direct implications for economic growth and public services.
The Maldives and Saudi Arabia share longstanding bilateral relations, with development cooperation forming an important component of those ties. Continued engagement with the Saudi Fund for Development is expected to provide further opportunities for collaboration as the Maldives pursues infrastructure expansion, improved connectivity and sustainable socioeconomic development.
The discussions at Mulee’aage concluded with President Dr Muizzu and Al-Marshad reaffirming their shared commitment to further strengthen the longstanding development partnership. With almost five decades of cooperation already supporting major projects across the country, both sides expressed their determination to broaden collaboration and continue working together in areas that contribute to the Maldives’ long-term development.
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