The Minister of Finance and Treasury Ali Hashim, has been appointed to represent the Maldivian government, with full power and authority to finalise and execute two loans from the Asian Development Bank (ADB).
The two technical assistance loan agreements have been negotiated to help the Maldives’ economic recovery programme.
The first special drawing rights loan is of MRF21,912,000 (US$35 million) which is proposed to finance capacity development for the economic recovery programme.
The second loan is of MRF 939,000 (equivalent to US$1.5 million) which will finance the economic development programme.
The ADB will also provide a grant aid of US$3 million in addition to the two loans.
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