The Saudi Arabian government has pledged a grant of USD 150 million to the Maldives, reveals the Maldivians government.
Briefing the press about President Abdulla Yameen’s official visit to Saudi Arabia, fisheries minister and co-chair of government’s Economic Council Dr. Mohamed Shainee said on Thursday, that Maldives will receive the grant within a few days. He said it will be given to the central bank, Maldives Monetary Authority (MMA), as balance of payment support for the repayment of foreign loans taken for major development projects.
He said when the grant is used to repay loans, it will lift the burden on the State budget.
Shainee said the Saudi visit was a very successful one, during which, President Yameen met the King of Saudi Arabia, Salman bin Abdul Aziz Al Saud, and held extensive discussions on issues of mutual importance.
President Yameen departed to Saudi Arabia, with a high level delegation consisting of his cabinet members, on the 3rd of this month and returned on Thursday.