Housing Development Corporation (HDC)’s Managing Director Fazul Rasheed states the Island Project implemented at Hulhumale’ with funding from the Saudi Fund for Development (SFD) will bring revolutionary changed to the suburb.

Speaking at the inauguration ceremony of Hulhumale’ Island Project on Thursday evening, Fazul said work undertaken under the project will pave the way to take Male’ area’s residents and businesses to “another level”, expressing hope for the project to create additional opportunities for businesses.

According to Fazul, a bridge linking Urban Isle and Hulhumale’ and channels will be developed under the project, funded by SFD. He added that the Hulhumale’ Island Project will serve as a path to expand and strengthen horizons which HDC and the government will utilize to revolutionize the area.

Fazul, in his speech, also thanked the Finance Minister, contractors involved in the project and individuals involved in the physical works of the project.

At Thursday’s ceremony, a plaque was presented to SFD’s CEO Sultan bin Abdul Rahman Al-Marshad for the continuous support rendered to the Maldives by the fund.

SFD has provided various assistance to the Maldives over the years. Last year, SFD decided to provide Maldives MVR 2.3 billion in financial assistance.

Additionally, the SDF has provided MVR 3 billion for the project to develop Maldives’ main gateway to the world, Velana International Airport.

Source(s): sun.mv

Chinese President Xi Jinping said on Thursday that the progress in China-Russia relations is attributable to the two countries’ commitment to the five principles of mutual respect, win-win cooperation, lasting friendship, strategic coordination, and fairness and justice.

President Xi made the remarks during a joint press conference with Russian President Vladimir Putin, following their talks at the Great Hall of the People in Beijing.

Describing the talks as “sincere and cordial,” Xi said they had a comprehensive review of the successful experience in developing the China-Russia relationship over the past 75 years since establishing diplomatic ties.

The China-Russia relationship has become a prime example of a new form of international relations as well as good-neighborly relations between two major countries, Xi told reporters.

Non-alliance, non-confrontation, not targeting any third party

President Xi said China and Russia are committed to mutual respect as the fundamental principle of relations and always render support for each other’s core interests.

Xi said he and Putin agree that the key to the two countries finding a new path to growing relations between major and neighboring countries lies in mutual respect and equality, as well as steadfast mutual support on issues concerning each other’s core interests and major concerns.

“This is central to the China-Russia comprehensive strategic partnership of coordination for the new era,” he said.

The two sides will uphold the principles of non-alliance, non-confrontation and not targeting any third party, Xi added.

China and Russia will continue to deepen two-way political trust, respect each other’s choice of development path, and realize development and revitalization with each other’s firm support, he said.

Win-win cooperation

China and Russia are committed to win-win cooperation as the driving force of relations and work to foster a new paradigm of mutual benefit, Xi said.

Last year, the two-way trade exceeded $240 billion, close to 2.7 times that of a decade ago, he noted. “This is a good indication of the all-round cooperation of mutual benefit that continues to deepen between the two countries.”

Xi stressed that he and Putin agree that the two countries need to look for areas where their interests converge, tap into their comparative strengths, deepen the integration of interests and enable each other’s success.

The two countries need to make further structural improvements to their cooperation, consolidate the good momentum in trade and other traditional areas of cooperation, support the formation of platforms and networks for basic research, continue to unlock cooperation potential in frontier areas, step up cooperation on ports, transportation and logistics, and help keep the global industrial and supply chains stable, he said.

People-to-people and cultural exchanges

President Xi said that China and Russia are committed to lasting friendship as the foundation of relations and carry forward the torch of Sino-Russian friendship.

Both China and Russia have a long history and a splendid culture, he said.

“The works of Pushkin and Tolstoy are household names in China, and Peking Opera and tai chi are much loved by the Russian people,” said Xi.

By focusing on implementing the Roadmap for China-Russia Cooperation on People-to-People and Cultural Exchanges Before 2030, the two countries are expanding people-to-people and cultural ties, he said.

Xi and Putin have also set 2024 and 2025 as China-Russia Years of Culture.

The two sides have proposed a series of cultural activities that are down to earth, close to people’s hearts and popular among them, and encouraged closer interactions between various sectors and at subnational levels, so as to enhance mutual understanding and affinity between the two peoples, Xi said.

Multipolarity and multilateralism

China and Russia are committed to strategic coordination as an underpinning of relations and steering global governance in the right direction, President Xi stressed.

The two countries are firmly committed to safeguarding the UN-centered international system and the international order underpinned by international law, he said.

Xi said China and Russia should stay in close coordination and collaboration on multilateral platforms such as the UN, APEC and G20, and advance multipolarity and economic globalization in the spirit of true multilateralism.

With Russia chairing BRICS this year and China taking over the chairmanship of the Shanghai Cooperation Organization later this year, the two sides will support each other’s chairmanship, build a high-quality partnership that is more comprehensive, close, practical and inclusive, and build the unity and strength of the Global South, he said.

Dedication to political settlement of hotspots

President Xi said China and Russia are committed to fairness and justice as the purpose of relations and dedicated to the political settlement of hotspots.

The Cold War mentality still exists, and unilateralism, hegemonism, bloc confrontation and power politics threaten world peace and the security of all countries, he said.

The two presidents are of the view that it is urgent to solve the Palestine-Israel conflict, he noted.

The UN resolutions must be earnestly implemented, and the question of Palestine must be solved on the basis of the two-state solution, said Xi.

The two sides believe that a political settlement is the right way forward for the Ukraine crisis.

China’s position on the issue is consistent and clear, including observing the purposes and principles of the UN Charter, respecting the sovereignty and territorial integrity of all countries, respecting the legitimate security concerns of all parties, and building a new security architecture that is balanced, effective and sustainable, Xi said.

“China hopes that peace and stability will return to the European continent at an early date and stands ready to play a constructive role to this end,” he said.

On Thursday, the Chinese and Russian presidents also signed and issued the Joint Statement of the People’s Republic of China and the Russian Federation on Deepening the Comprehensive Strategic Partnership of Coordination for the New Era in the Context of the 75th Anniversary of China-Russia Diplomatic Relations.

The leaders also witnessed the signing of a number of intergovernmental and interagency cooperation documents.

Source(s): CGTN

The Government of Maldives has signed loan agreements with the Saudi Fund for Development (SFD) to propel the advancement of Velana International Airport (VIA) and strengthen the healthcare sector.

Minister of Finance, Dr. Mohamed Shafeeq, and CEO of SFD, Sultan Abdulrahman Al-Marshad, formalized the agreements during a ceremony held at the Ministry of Finance. The VIA Development Agreement involves a substantial USD100 million loan, while the healthcare sector is set to benefit from USD50 million under the signed accord.

During the signing ceremony, CEO Sultan Abdulrahman underscored the SFD’s enduring support, emphasizing the significance of the allocated USD100 million for VIA’s development. He further highlighted that the healthcare sector assistance aims to elevate medical services’ quality across the Maldives’ islands.

The event was attended by government dignitaries, representatives from the Saudi Embassy, and key figures from the SFD, marking a pivotal moment in advancing Maldives’ infrastructure and public health services.

Source(s): PsmNews