April 14, 2025، Malé, Maldives

His Excellency Dr. Mohamed Muizzu, President of the Republic of the Maldives, has conferred the prestigious Order of the Dignified Rule of Muleege Dynasty (O.D.R.M.D) upon Mr. Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development (SFD), in recognition of the Kingdom of Saudi Arabia’s impactful development contributions through SFD towards the welfare and progress of the Maldivian people. Over the past 47 years, the Fund has played a vital role in supporting the country’s progress across key sectors.

The ceremony was attended by His Excellency Mr. Hussain Mohamed Latheef, Vice President of the Maldives; His Excellency Mr. Moosa Zameer, Minister of Finance and Planning; Mr. Fahad Al-Dosari, Deputy Ambassador of the Custodian of the Two Holy Mosques to the Republic of the Maldives; along with senior officials from both sides.

This recognition was presented during Mr. Al-Marshad’s official visit to the Maldives, which also included the signing of an additional development loan agreement worth USD 17 million to support the expansion and development of the Velana International Airport Project—bringing SFD’s total financing for the project to USD 217 million.

Additionally, Mr. Al-Marshad participated in the groundbreaking ceremony for the Affordable Housing Project, which aims to provide more than 400 fully integrated housing units for over 2,700 beneficiaries. The project is being financed through a USD 25 million concessional development loan from SFD.

The honor bestowed by the President underscores the deep-rooted development partnership between the Kingdom of Saudi Arabia and the Republic of the Maldives and reflects SFD’s enduring commitment to supporting sustainable development, and economic and social growth for the Maldives.