At the ongoing Maldives Partnership Forum, several foreign investors have pledged millions for the development of Maldives.
President Ibrahim Mohamed Solih launched the forum, first of its kind since 2009, held at Kurumba Maldives from June 17-18. In his opening statement, President Solih President Solih reiterated the commitment given by the administration in engaging with the international community in issues of mutual importance and to fulfil the pledges of the island nation. Thanking all development partners in attendance for their presence, the president noted the large turnout exceeded the expectations and is indicative of the many friends Maldives have across the world.
Meanwhile, Minister of Foreign Affairs Abdulla Shahid called for cooperation in efforts to bring parallel developments to all parts of the country. He expressed plans of the administration to implement blue economy and good governance.
Praising the development plan put forward by Maldives, the attendees pledged millions during the first day of the forum. In this regard, Kuwait Fund and European Investment Bank pledged funds for the development projects conducted in Maldives.
Kuwait Fund declared it would assist the efforts of Government of Maldives to establish hubs across the country to boost the ferry system that would connect about 200 islands. Ministry of National Planning and Urban Infrastructure revealed a total of five hubs would be established across the country that would boost transport and connectivity among the islands, which would also play an important role in the advancement of the economy. Kuwait Fund pledged to assist Maldives in conducting a feasibility study on the project.
Furthermore, Kuwait Fund also decided to grant a USD 50 million concessional loan for the development of Velana International Airport (VIA), the main transport hub and international gateway of Maldives. Previously, in 2016, Kuwait Fund had also granted a USD 50 million concessional loan to assist in the USD 1 billion dollar expansion of VIA. Kuwait Fund also pledged to assist Maldives to conduct a feasibility study on a nationwide waste management project.
The European Union delegation, led by Ambassador to Maldives Tung–Lai Margue, also pledged support to Maldives. In this regard, a special interest was given in utilising more environment friendly ways to acquire energy. The European Union pledged 5 million Euros to cease burning of fuel in 20 islands. A further 45 million Euros was pledged to assist the solar energy project launched in Maldives.
Further interest was shown by the participants to assist Maldives in developing Small and Medium Enterprises (SMEs) and strengthen maritime security.