President Dr. Mohamed Muizzu has conferred the prestigious Order of the Dignified Rule of the Muleege Dynasty (ODRMD) upon Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development (SFD), in recognition of his outstanding contributions to the development and well-being of the Maldivian people. The award was presented at a formal ceremony held at the President’s Office.
The honour reflects Al-Marshad’s exemplary leadership and the Saudi Fund’s instrumental role in supporting key development sectors in the Maldives. The decoration also pays tribute to the enduring legacy of Al-Sultan Muhammed Shamsuddin, a pivotal figure in Maldivian history who reigned in 1893 and again from 1903 to 1934. His era is notably remembered for the ratification of the first Maldivian constitution in 1933.
President Muizzu conferred the national honour under the authority granted by Article 115 of the Constitution and Section 3 of the Maldives Honour Act.
Al-Marshad’s ongoing visit to the Maldives, which commenced on April 13, symbolizes the strong and enduring partnership between the Saudi Fund for Development and the Maldives. Since its establishment, the fund has invested over USD 470 million across critical sectors including healthcare, transport, housing, and fisheries—initiatives that have left a transformative impact on the country’s social and economic landscape.
A significant milestone in this collaboration was achieved in May 2024, when the Saudi Fund approved a loan package of USD 150 million to support two key national projects. Of this, USD 100 million was allocated for the expansion of Velana International Airport (VIA), aimed at enhancing connectivity and promoting tourism. The remaining USD 50 million was designated for a healthcare development programme, which includes the construction of three new hospitals across the Maldives to improve access to quality medical services.
Established in 1974 by the Kingdom of Saudi Arabia, the Saudi Fund for Development has become a leading force in promoting sustainable development in emerging economies. Through the provision of concessional loans and grants, the fund continues to support major projects in infrastructure, education, healthcare, and energy, fostering inclusive growth and long-term prosperity for partner nations.