World Bank has agreed to give out 20 million dollars to increase jobs for youth in Maldives. The Board of Directors at World Bank have already approved the issuance of this money, as per the Bank.
This 20 million shall be used to empower women in Maldives and to build their interest in areas such as ICT, said the World Bank. It would also be used to increase human capital in Maldives and to establish societal equity in the country by increasing the amount of jobs available in the country.
Out of this 20 million, 10 million is given as a loan while the other 10 million is free aid according to World Bank. However, the Bank has not yet revealed the interest nor the payback period for the loan.