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World Bank’s support vital for the Maldives: President

President Ibrahim Mohamed Solih has stated the support of World Bank is vital for the Maldives as the country looks to recover from the impact of the COVID-19 pandemic.

President Solih made the remarks during his meeting with the World Bank’s Country Director to the Maldives, Faris Hadad-Zervos, and Country Manager Chiyo Kanda, at the President’s Office on November 29. Minister of Finance Ibrahim Ameer and several senior officials of the Ministry of Finance and President’s Office took part in the meeting.

Speaking at the meeting, President Solih thanked the World Bank for the continuous assistance provided to the Maldives, highlighting the constructive relationship the Maldives has had with the bank over the past 42 years, collaborating on over 32 projects cumulatively worth in excess of USD 295 million. He highlighted the assistance provided by the World Bank in an array of fields, including public finance, renewable energy, capacity-building, improving the education sector, enhancing the fisheries sector and investing in human capital.

The President expressed that the World Bank’s support is more vital now than ever in light of the difficult national circumstances the COVID-19 pandemic has had on the country's economy. He welcomed and urged continued assistance from the organisation as the Maldives builds on its efforts to develop greater resilience.

The World Bank’s delegation relayed its readiness to assist the Maldives accomplish its macro-fiscal priorities and enhance its economic resilience, while helping the country recover from COVID-19. While congratulating the president on the government’s positive trajectory in the past two years, the delegation wished continued success in working towards women’s empowerment and decentralization. The country director stated that visiting at this time, during the global crisis is important and shows the World Bank' commitment to supporting the Maldives. He further stated Maldivians are a resilient people, and looked forward to working together to improve access to concessional financing.

The World Bank was among the first to provide the Maldives with COVID-19 relief assistance, and have been helping the country implement projects to strengthen its health sector preparedness, infrastructural resilience and capacity to respond to natural disasters. Through the International Finance Corporation, the World Bank has also been working with the Maldives to strengthen the country’s private sector.