Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy, Geostrategy

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Saudi Fund invests in education, road projects in Lanka

Saudi Fund for Development (SFD) has started transport and education projects in Sri Lanka.
By TRENDS Desk
December 29, 2021 2:09 pm
  • The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
  • The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education

Saudi Fund for Development (SFD) has started transport and education projects in Sri Lanka.

The transport project is about improving the  Peradeniya-Badulla-Chenkalady Road in Lanka.

The SFD is investing USD60 million  to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents and traffic congestion. The scheme is expected to serve more than three million beneficiaries.

Prime Minister of Sri Lanka Mahinda Rajapaksa and CEO of the Saudi Fund for Development (SFD) Sultan Abdulrahman Al-Marshad also laid the foundation stone for the development of the campus of Wayamba University, funded by the SFD with a total cost of USD28 million. The scheme will support education opportunities for more than 5,000 students each year and increase the quality of education.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]