Abu Dhabi Fund for Development (ADFD) on Monday signed to provide USD 50 million (MVR 771 million) as grant aid to Maldives for the year 2020.
The Memorandum of Understanding (MoU) signed between ADFD and Maldives marks the single largest grant aid extended by the Fund to the island nation till date.
Minister of Foreign Affairs Abdulla Shahid signed the agreement on behalf of the Maldivian government at a ceremony held in Dubai. ADFD was represented by its Director General, Mohammed Saif Al-Suwaidi.
Deep gratitude to HH @MohamedBinZayed, HH @ABZayed and HH Sheikh Mansour bin Zayed for their generosity in granting MVR 771 million in development assistance to the Maldives. Pleasure to sign the MOU with Mohamed Al Suwaidi, Director General of @ABUDHABI_FUND. pic.twitter.com/Fo601wkWhb
— Abdulla Shahid (@abdulla_shahid) March 9, 2020
The foreign ministry of Maldives hailed ADFD’s continued support towards the development of the island nation, highlighting the assistance provided by the Fund, particularly for key infrastructure projects, since the late 1970s.
Foreign Minister Shahid previously met ADFD's Director General Mohammed Saif during a formal trip to Saudi Arabia in September 2019, during which the minster and director general discussed new development projects to be undertaken in Maldives.
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