ADB assistance agreement extended for next 5 years

ADB President with Finance Minister of Maldives. (Sun Photo/Fayaz Moosa)

The Asian Development Bank (ADB) has stated that it will be extending support and aid to the Maldives for the next five years as well. 

The agreement between the Maldives and the bank was extended for the next five years and will see the bank provide aid to the Maldives under the ADB country partnership strategy between 2020 and 2024. 

ADB has funded a number of development projects in the Maldives. In the next five years, the bank will be providing aid in tax administration, sustainability, and efficiency of the public sector. 

The bank will especially assist the Maldives in overcoming the situation with COVID-19.