The government of Maldives and Netherlands have signed a grant agreement of USD 10.7 million to finance the coastal protection project of Fuvahmulah City. The grant aid was signed by Minister of Finance and Treasury Ahmed Munawwar and Deputy Head of Mission of Netherlands Embassy in Sri Lanka, Eva van Woersem.
The coastal protection project of Fuvahmulah City is funded by the Facility for Infrastructure Development (ORIO), carried out by the Netherlands Enterprise Agency on behalf of the Dutch Ministry of Foreign Affairs. The project aims to provide the residents of Fuvahmulah with a safe and healthy environment to live and work in and to provide a sustainable stable basis for further socioeconomic development, as without intervention, the island is threatened in its existence.
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Speaking after signing the agreement, Finance Minister Ahmed Munawwar stated that the government has worked to attain funds required for the coastal protection project of Fuvahmulah City from 2014 onwards. The funds are now arranged with the aid of Kuwait Fund, state budget and ORIO, said the Finance Minister.
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Deputy Head of Mission of Netherlands Embassy, Eva van Woersem said that this project is important for a low lying country like Maldives.
Under the project, an outer wall will be established to protect the coast of an area of 2650 metres of Fuvahmulah. The total cost of the project is 25.5 million U.S. dollars.