World Bank to establish a country office in Maldives

The Government of Maldives has signed an agreement to establish a country office of World Bank in Maldives.

The agreement was signed by Minister of Finance Ibrahim Ameer and World Bank's Vice President for the South Asia Region Hartwig Schafer on the side-lines of the World Bank Annual Meeting held in Washington DC from October 18-20.

Following the signing of the agreement, according to the finance ministry, it is expected a country office of World Bank would be established in Maldives in the near future.

During the visit by Finance Minister Ameer to Washington to attend the annual meeting, he informed officials from World Bank on the fiscal policy of Maldives.

Further discussions were held on further enhancing the tourism industry in Maldives and generating electricity from renewable energy resources.

During his visit to Washington, the finance minister held meetings with officials from Abu Dhabi Fund, Japan Bank for International Cooperation (JBIC) and Fiscal Department of International Monetory Fund (IMF).

The minister also attended the international forum, Coalition of Finance Ministers for Climate Action (CAPE).