President Dr Mohamed Muizzu awarded the distinguished Order of the Dignified Rule of the Muleege Dynasty (ODRMD) to Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, during a ceremony held at the President's Office. The recognition highlights Al-Marshad's exemplary efforts and the Saudi Fund's substantial contributions to the progress and welfare of the Maldivian people.
The accolade pays homage to the legacy of Al-Sultan Muhammed Shamsuddin, who reigned over the Maldives in two distinct periods—first in 1893 and again from 1903 to 1934. His governance remains a cornerstone of the nation's history, marked by the initiation of the first Maldivian constitution, formally adopted in 1933.
President Muizzu exercised his authority under Article 115 of the Constitution and Section 3 of the Maldives Honour Act to bestow this high honour.
Al-Marshad's visit to the Maldives, beginning on 13 April, exemplifies the enduring partnership between the Saudi Fund for Development and the Maldives. Since its creation, the fund has directed over USD 470 million into essential sectors such as healthcare, transportation, housing, and fisheries, leaving a lasting imprint on the nation's economic and social fabric.
In May 2024, this partnership reached another milestone, as the Saudi Fund approved USD 150 million in loans for two critical initiatives. Of this, USD 100 million was committed to the expansion of Velana International Airport (VIA), aimed at boosting tourism and strengthening economic activity. An additional USD 50 million was designated for a healthcare development programme to construct three hospitals across the Maldives, significantly enhancing access to medical services.
Founded in 1974 by the Kingdom of Saudi Arabia, the Saudi Fund for Development has emerged as a prominent facilitator of sustainable progress in developing nations. Through the provision of soft loans and grants, it has advanced initiatives in infrastructure, health, education, and energy. Its steadfast dedication to empowering communities and fostering prosperity remains central to its objectives.