ADB grant USD 11 million to enhance cross border security of Maldives

Asian Development Bank (ADB) has confirmed USD 11 million would be provided to Maldives for the installation of an electronic system to enhance cross-border security of Maldives.

The electronic platform will ease goods clearance and minimise the time spent to clear the goods, according to ADB. Furthermore, ADB said the cross-border control system will ease handling the required controls over fees and duties on imports or exports.

While the establishment of the cross border security system costs USD 11.99 million, USD 1.99 million will be provided by the Government of Maldives. The aid from ADB includes a USD 5 million financial assistance, a USD 5 million loan assistance and USD 1 million as technical assistance.