World Bank provides USD 30 million in aid to Maldives

(Photo/World Bank)

The World Bank has signed an agreement to provide USD 30 million in aid to the Maldives.

The agreement was signed by Finance Minister Ahmed Ameer on behalf of the Maldives, and the Country Director for Nepal, Sri Lanka and Maldives Ms. Idah Pswarayi-Riddihough on behalf of the World Bank.

Under this agreement, USD 20 million will be provided to enhance the public financing framework of the country. USD 10 million have been provided for pandemic emergencies to strengthen the country against natural disasters and diseases.

The World Bank also stated that the Maldives has moved up in the macroeconomic and human capital indicators and highlighted that the country will face challenges to overcome natural disasters due to the geographical formation of the country.