NewsSustainable Development

Maldives Development Projects Get US$50 Million Funds

The Abu Dhabi Fund for Development, ADFD, the main nationwide entity for financial growth support, right now signed a settlement with the federal government of Maldives to supply funding help to the tune of US$50 million (AED184 million) for infrastructure growth tasks within the Maldives.Maldives Development Projects Get US$50 Million Funds

The settlement was signed by Mohammed Saif Al Suwaidi, ADFD Director-Basic, and Abdulla Shahid, Maldives’ Minister of Overseas Affairs, within the presence of a number of senior officers from each side.

Aimed toward strengthening the efforts of the Maldivian authorities to advertise the socio-financial growth of the island nation, the funding will help the implementation of a number of improvement tasks throughout important financial sectors to ship a major constructive influence on the nation’s economic system.

Commenting on the announcement, Mohammed Al Suwaidi stated, “This settlement articulates ADFD’s dedication to supporting the event applications of the Maldivian authorities to drive financial progress and obtain sustainable growth within the nation.”

Al Suwaidi went on to defined that along with catalyzing financial progress and boosting sustainable improvement; such tasks assist create enabling surroundings for overseas investments and stimulate progress in commerce, transport, and tourism. “Moreover, they create 1000’s of job alternatives for native communities and supply them with improved livelihoods.”

For his half, Abdulla Shahid lauded the UAE’s continued help for the Maldives via ADFD’s energetic involvement in funding a number of growth tasks within the nation. He was famous that such tasks assist the Maldivian authorities to pursue its improvement agenda and fulfill its vision to make sure financial and social prosperity for the individuals of the Maldives.

The Maldivian minister additionally reiterated his authorities want to boost collaboration with ADFD to extend financial assist and funding in sectors key to sustainable improvement and inclusive development.

Since 1976, ADFD has been actively concerned with the growth of the Maldives via supporting authorities’ efforts to advertise sustainable improvement. To this finish, ADFD has allotted AED748 million in the direction of the event of a number of initiatives serving important financial sectors together with transport, housing, and renewable vitality.


Michael Gibbons

Michael is the contributing author and editor for the sustainable development column. His articles on sustainable development and what are the key aspects leading to that have always created ripples in society. He has worked with many NGO’s and also government bodies towards the conservation of the environment and sustainable development. He is also a social influencer.

Related Articles