USD 290 Million Secured as Financial Assistance by Maldives

A total of USD 290 million has been secured in the forms of loans and grants by the Maldivian government revealed Minster of Finance Ibrahim Ameer.

In a press conference held at the National Emergency Operations Center (NEOC) this Saturday, Minister Ameer stated that the government is seeking funds for different sectors from various international institutions. With a total of USD 290 million currently secured, efforts are underway to guarantee more finance for the country, states the Minister.

The Minister further revealed plans to seek an ITFC credit facility for State Trading Organization (STO) in order to lighten the burden on the state budget by issuing sovereign guarantees. Minster also stated that the Ministry is in communication with Asian Infrastructure Bank (AIB) and other parties as well.

The Maldivian government is looking to secure a total of MVR 13 Billion from international parties in the face of COVID-19.