Colombo, 11 February 2022 (TDI): Earlier this month, a delegation led by Nedhal A. Al-Olayan traveled to SriLanka . Al-Olayan is the Deputy Director-General for Administration and Financial Affairs of the Kuwait Fund for Arab Economic Development (KFAED). Their motive was to sign a joint loan agreement for the purpose of developing the Medical Faculty at the University of Moratuwa in Sri Lanka.


Yousef Al-Bader, Deputy Director for Operations for East, South Asian, and Pacific Countries, was also a part of this visiting delegation. The Kuwait team paid a courtesy call to the Foreign Minister of Sri Lanka, G. L. Peiris, and Education Minister Dinesh Gunawardena.

S. R. Attygale, Secretary to the Treasury and Sri Lankan Ministry of Finance, was chosen to carry out this official signing from the Sri Lankan side. Thus, in the presence of these officials, including Sri Lanka’s Finance Minister Basil Rajapaksa, Al-Olayan and Attygale signed the loan agreement. The ceremony took place at the Ministry of Foreign Affairs in Colombo, on 3 February 2022.


After the event, the Kuwaiti delegation joined the Sri Lankan Ministers for a brief interaction, aimed at solidifying the deal.

During this conversation, Sri Lankan Foreign Minister Peiris highlighted the friendly existing ties between Sri Lanka and Kuwait. He remarked that their alliance had always been of mutual benefit to each party.

Furthermore, the Sri Lankan Minister further expressed his extreme gratitude to Kuwait for bestowing such a large sum. Peiris noted that the project was of utmost priority for Sri Lanka at the moment, and this loan would prove immensely helpful.

He explained how equipping the Faculty of Medicine at the University of Moratuwa would be of use to not only Sri Lanka but other nations in the region too. Hence, he suggested that by increasing advancement in medical skills, the health sector would be replenished. Areas such as nursing, healthcare support, and worker training facilities would vastly improve. Consequently, this would enable the Sri Lankan youth to cater to employment demands in Kuwait and other countries in the Gulf.

Meanwhile, Deputy Director Al-Olayan affirmed Kuwait’s commitment to assisting its ally Sri Lanka. He stressed that the partnership is significant, and the Government of Kuwait values supporting prioritized development initiatives in Sri Lanka. This cements the bilateral relations between both nations.