The signing of Bilateral Amendatory Loan Agreements with the Saudi Fund for Development in relation to the present External Debt Restructuring Process is a significant milestone of External Debt Restructuring of Sri Lanka.

The Kingdom of Saudi Arabia has played a pivotal role by providing continuous loan disbursements, even after Sri Lanka declared a debt standstill decision due to the economically challenging situation. This assistance enabled to achieve the significant progress of the development projects without any hindrances of implementation. Moreover, the loans extended by Saudi Fund for Development were provided on concessionary terms by offering the relief to the country's overall debt burden.

The signing of Bilateral Amendatory Loan Agreements between the GoSL and the Saudi Fund for Development were held on July 14, 2025 and total restructured amount was Saudi Riyal (SAR) 516,951,065.02. Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning, and Economic Development signed the agreements on behalf of GoSL, and Mr. Sultan Abdulrahaman A Almarshad, Chief Executive Officer of the SFD signed the agreements for the party of the Kingdom of Saudi Arabia. In simultaneously, the high-level delegation of the SFD participated the ceremonial opening of ‘Wayamba University Township Development Project’ funded by SFD during this visit.

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.