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News / ADB

ADB gives Maldives with USD 2 million in financial aid

Lamya Abdulla
02 December 2021, MVT 14:13
Finance Minister Ibrahim Ameer (L) accepts the financial aid by ADB -- Photo: Finance Ministry
Lamya Abdulla
02 December 2021, MVT 14:13

Asian Development Bank (ADB) has provided USD 2 million (MVR 300 million) in aid for Maldives' health services.

In a ceremony held in the Finance Ministry on Thursday the agreement between the two parties was signed on this matter. ADB provided a total of USD 2,050,000 to Maldives. Japan Fund for Poverty Reduction had provided USD 2 million of this amount. This money will be utilized to prevent contagious diseases and to overcome disasters Maldives may face.

ADB has provided USD 51 million (MVR 786 million) to Maldives to aid on various issues since the pandemic started. Out of that, USD 25 million (MVR 386 million) were issued as loans by ADB.

Maldives has been working to obtain financial aid from foreign financial institutions. So far Maldives have received USD 520 million (MVR 8 billion) from various monetary institutions. The biggest benefactor to Maldives was the Indian government, who has provided Maldives with USD 250 million (MVR 3.8 billion).

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