USD 117 million worth of facilities allocated for the Maldives through IDB

On his visit to take part in the annual conference of the Islamic Development Bank (IDB), Finance Minister, Ahmed Munawar has secured USD 117 million worth of facilities to the Maldives.

Ministry of Finance and Treasury said that the facilities were assigned in the discussions with the IDB and the institutes involved.

And so the in a meeting with the President of IDB, Dr. Bandar M. H. Hajjar, Minister Munawar shared information about the upcoming projects in the Maldives. Area to be financed by IDB include infrastructure projects and waste management projects.

The Minister also met with the CEO of the IDB International Islamic Trade Finance Corporation and discussed trade, fishing and harbor development on acquiring expertise.

Minister Munawar met with arab parties that provide developmental aid. And so the Minister brief the officials of OPID and Kuwait Foundation on the projects ongoing in the Maldives funded by those groups.

Finance Ministry said that they have been assured that an agreement will be signed on an important new project in early July.

The Finance Minister was accompanied by the Deputy Minister, Hussain Shaam and Senior Planning Officer, Khadheeja Maajidha Hassan.