The government on Monday signed a memorandum of understanding with the Saudi Fund for Development, regarding the latter's participation in the Maldives' Financing of Affordable Housing Scheme Project, and the Development of Fisheries Sector Project.
The signing ceremony took place at the President's Office, as part of the current official visit by Saudi Arabia's Minister of Interior, Prince Abdulaziz bin Saud bin Naif, to the Maldives.
The memorandum of understanding was signed by Minister of Finance and Treasury, Ahmed Munawwar, and the chairman of Saudi Fund's Board of Directors, Ahmed bin Ageel Al Khatheeb.
President Abdulla Yameen Abdul Gayoom had a private sit-down with Prince Abdulaziz bin Saud bin Naif prior to the signing ceremony.
Upon his arrival at capital Male City on Monday afternoon, the prince was received by Minister of Home Affairs Azleen Ahmed and Minister of Defence and National Security Adam Shareef. Maldives National Defence Force (MNDF) had also presented an honour guard at the Republic Square to receive the interior minister.
Prince Abdulaziz bin Saud bin Naif's trip to the Maldives marks the first time for top officials of the Saudi government to visit the archipelago after their monarch, King Salman bin Abdulaziz, cancelled his visit last year March. The interior minister, who is accompanied by a delegation of 150 officials including some members of the royal family, will conclude his visit late Monday.