The Government of Sri Lanka (GoSL) has signed Bilateral Amendatory Loan Agreements with the Saudi Fund for Development (SFD), marking a significant milestone in the country’s ongoing External Debt Restructuring Process, the Ministry of Finance, Planning, and Economic Development stated.

The Kingdom of Saudi Arabia has played a pivotal role in supporting Sri Lanka by continuing loan disbursements even after the country declared a debt standstill due to its challenging economic circumstances.

This continued financial assistance has enabled significant progress in development projects across the country, without any disruptions to their implementation. Furthermore, the loans extended by the SFD were provided on concessionary terms, offering much-needed relief to Sri Lanka’s overall debt burden.

The signing of the Bilateral Amendatory Loan Agreements took place on July 14, 2025, the statement said. 

Accordingly, the 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 the Government of Sri Lanka.  Sultan Abdulrahman A. Almarshad, Chief Executive Officer of the Saudi Fund for Development, signed on behalf of the Kingdom of Saudi Arabia.

The successful conclusion of these loan restructuring agreements is expected to further strengthen the deep and longstanding bilateral relations between the Kingdom of Saudi Arabia and the Government of Sri Lanka, the Finance Ministry added further.