The World Bank’s Vice President for South Asia Region, Hartwig Schafer, arrived in Maldives on January 17.
The four-day trip marks Schafer's first visit to Maldives, during which he will meet with top officials of the government, the heads of private companies and the representatives of civil society as well.
Before his visit, Schafer stated that Maldives is a “success story” in terms of development and sustained growth.
Schafer highlighted the advancement of Maldives as a developing country, adding that while the country’s GDP per capita reached above USD 10,000, Maldives also has a literacy rate approaching 100 percent.
Maldives has been working with the World Bank for over 40 years. According to Schafer, the World Bank will continue to support Maldives with its economic development and environmental projects, and also provide assistance with the construction of Institutional Capacity Buildings.
In 2018, the World Bank Board granted USD 12 million to Maldives, out of which USD 6 million was gifted as free aid.
The agreement offered to strengthen Maldives' public sector, financial management systems, debt and cash management, and to improve the financial reporting of the country.
Sign In