Maldives honors Saudi Fund CEO Al-Marshad with Order of Dignified Rule of Muleege Dynasty

President Dr. Mohamed Muizzu on Monday conferred the Order of the Dignified Rule of Muleege Dynasty (ODRMD) to Sultan bin Abdulrahman Al-Marshad, the CEO of the Saudi Fund for Development.

He was presented with the laurels in a ceremony held at the President’s Office on Monday morning.

The Order of the Dignified Rule of Muleege Dynasty commemorates the rule of Al-Sultan Muhammed Shamsuddin.

According to the President’s Office, President Muizzu made the decision to honor Al-Marshad with the laurels in recognition of the extensive support and cooperation the Saudi Fund for Development continues to provide for the welfare and progress of the Maldivian people.

Al-Marshad arrived in Male’ on Sunday on a three-day visit.

During Monday’s ceremony, Al-Marshad and Maldivian Finance Minister Moosa Zameer also signed a loan agreement extending an additional USD 17 million in financing for the Velana International Airport (VIA).

He is also set to inaugurate the development of 400 affordable housing units in Hulhumale’ Phase II.

The partnership between the Maldives and the Saudi Fund for Development, which began 47 years ago on 1978 with funding for the VIA – then called the Male’ International Airport. The institution has provided USD 240 million in funding for the airport alone over the course of the years.