OPEC Fund for International Development (OFID) has applauded Maldives for the quick investments made through funds released by the organisation.
Speaking at the ceremony held to sign the loan agreement of USD 50 million with the Government of Maldives, Director General of OFID Dr. Abdulhamid Alkhalifa said Maldives has been very efficient in making use of the loans provided by OFID, adding the funds are quickly invested on projects. Noting there are several delays in commencing projects under OFID loans in most countries, the director general said the organisation is pleased with the progress made by Maldives in using the funds.
In response to a question on how much Maldives repays the loans, Alkhalifa said there has never been a problem with delayed payments in the 24 years since OFID established ties with Maldives.
Maldives established ties with OFID in 1996. The organization has provided funds for 23 projects in Maldives, amounting to a total cost of 200 million US dollars.