Malé, Maldives – July 26, 2025

In the presence of His Excellency Dr. Mohamed Muizzu, President of the Republic of the Maldives, The Saudi Fund for Development (SFD) Chief Executive Officer H.E. Sultan Al-Marshad, participated in the official inauguration ceremony of the new Expansion of Velana International Airport in Malé. Along with the Ambassador of the Kingdom of Saudi Arabia to the Maldives H.E. Yahya Hassan Al-Qahtani.

This project comes as part of SFD’s ongoing support to sustainable development efforts in developing countries. The new Expansion at Velana Airport International is being financed through three concessional development loans provided by SFD, with a total value of USD 217 million, in collaboration with other international development partners. 

The project aims to strengthen the Maldives’ air transport infrastructure by constructing modern international and domestic terminal buildings, in addition to a fully integrated seaplane terminal. The expanded airport is expected to accommodate up to 7 million passengers annually, with future scalability to reach 15 million passengers per year. The expansion will also improve passenger experience and operational efficiency, while supporting cargo and logistics services to enhance trade activity and economic development in the country.

These efforts form part of the Saudi Fund for Development’s ongoing commitment to advancing sustainable development in the Republic of the Maldives. Since 1978, SFD has provided 17 development loans, financing 14 key projects and programs with a total value exceeding USD 488 million. These projects span critical sectors such as transportation, water and sanitation, health, and infrastructure, reflecting the Fund’s dedication to fostering prosperity and resilience for the Maldivian people.