Government of Maldives Launches Development Bank to Address Financing Challenges

Photo: Freepik

President Dr Mohamed Muizzu established the Development Bank of Maldives Limited on Thursday, a state-owned establishment wholly owned by the Government of Maldives; the bank was established under authority granted to the President by Section 15 of the Companies Act (Act No. 7/2023).

The company was formed in alignment with the Government’s policies, including:

  • Funding of infrastructure projects
  • Investing in sustainable economic and social development
  • Addressing the difficulties associated with financing PSIP projects through syndicated financing
  • Fostering a greater interest in maintaining foreign exchange within the nation’s banking system
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The registered address of the Development Bank of Maldives Limited is the Ministry of Finance, Ameenee Magu, 20379, Male, Maldives.

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