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Asian Infrastructure Investment Bank (AIIB) has announced the approval of a USD 7.3 million loan by it’s board of directors—the bank’s first project financing in the Maldives, to strengthen the country’s effort against the novel corona virus.
In a statement the bank said the project, co-financed by the World Bank, would allow the Maldivian government to facilitate more personal protective equipment (PPE) to medical professionals in the front lines as well as strengthen the country’s health systems through enhanced testing capabilities.
“AIIB is strongly committed to ensuring that the government has the necessary resources and capacity to protect the most vulnerable in the country,” said AIIB Vice President, Investment Operations, D.J. Pandian.
Also today, Finance Minister and Asian Development Bank (ADB) Governor for the Maldives Ibrahim Ameer and ADB’s President Masatsugu Asakaw discussed the bank’s support to the country in mitigating the impacts of the COVID-19 pandemic.
ADB has earlier provided the Maldives with a quick-disbursing $50 million budget support package for Maldives comprising a $25 million grant and a $25 million concessional loan.
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