Islamic Development Bank (IsDB) has pledged a USD 117 million loan facility for Maldives' development projects.
This was announced following finance minister Ahmed Munawar’s discussions with the heads of IsDB on the sidelines of IsDB Group’s Annual Meeting in Jeddah, Saudi Arabia, earlier this month.
Finance ministry said the assistance will be provided for infrastructure and waste management projects.
After the Annual Meeting, Minister Munawar met with IsDB’s president, Bandar M. H. Hajjar, and shared information about important development projects being carried out in the Maldives. He held similar meetings with the heads of OFID and Kuwait Fund as well.
Finance ministry said through the meetings the finance minister got the assurance that an important project will be signed before next month.