Ministry of Finance has revealed USD 195 million has been collected as international aid to the Maldives amid the COVID-19 pandemic.
Statistics from the finance ministry revealed USD 195 million has been collected as aid through international financial organisations, agencies of the United Nations (UN) and countries with close ties with the Maldives. The aid is allocated for the COVID-19 response and budget support in the Maldives.
The finance ministry provided details of the funds provided by different international organisations and countries. As such, the ministry revealed Asian Development Bank (ADB) has provided USD 52.3 million, including USD 27.3 million in grants and USD 25 million in loans. Meanwhile, USD 31 million has been provided by the World Bank, including USD 15 million in loans and USD 16 million in grants.
Furthermore, the finance ministry revealed loans worth USD 35.6 million has been provided by Islamic Development Bank (IDB), USD 28.9 million by International Monetary Fund (IMF), USD 20 million by the OPED Fund for International Development (OFID) and USD 22.6 million by the European Investment Bank (EIB).
Financial assistance provided by countries include grants worth USD 7.4 million provided by Japan and USD 1 million by Canada. Meanwhile, countries such as India, China, US, Bangladesh and UAE have provided technical assistance and supplies to fight the COVID-19 pandemic.
The international aid collected by the Maldives is used to strengthen the response to COVID-19, with efforts focused on the establishment of testing and treatment facilities, and providing financial assistance to local businesses and individuals affected by the pandemic.