World Bank Approves 2 Projects for Maldives

President of World Bank / Photo: Jakarta Post

The Board of the World Bank has approved 2 projects for Maldives equaling to USD 30 million.

According to the Bank, the projects were approved to support the government’s efforts in strengthening policy framework and enhancing the sustainability of public finances.

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From the 30 million, 20 million is allocated to the ‘Maldives First Fiscal Sustainability and Budget Credibility Development Policy Financing Operation’ with 10 million for the ‘Development Policy Financing with Catastrophe Deferred Draw-down Option’.

USD 15 million is being given under free aid along with USD 15 million for credit. The credit has been given for a period of 40 years.

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