uring the past decade, the OPEC Fund has been active in providing finance to the water supply and sanitation sector in the Maldives, and is now the largest

international donor in the sector. More than US$106 million in development funding – including US$32.5 million of the organization’s latest loan – is supporting water and sanitation projects in the country. The new loan is for a total of US$50 million and was signed by the OPEC Fund’s Director-General Dr Abdulhamid Alkhalifa and Maldives’ Minister of Finance Ibrahim Ameer in January in Malé. The finance will support the Outer Islands Harbors, Water Supply and Sewerage Facilities Project. The government of the Maldives is

co-financing the project, which costs a total of US$62.25 million, and planned works include building water supply networks and sewerage systems, as well as improving harbor infrastructure that will boost tourism and other economic opportunities. Around 20,000 people on 13 outer islands are expected to benefit. The harbor works will rehabilitate and upgrade priority infrastructure, better serving outer islands that have been economically marginalized despite their substantial potential for economic and social development. Speaking at the loan signing ceremony,

Dr Alkhalifa said: “Our presence here today is evidence of the importance that the OPEC Fund attaches to its cooperation with the government of the Maldives, which continues to flourish. This project builds upon our long-established framework of cooperation, which dates back to 1977. During this period, your government has embarked upon a remarkable economic journey, contributing to the prosperity of its people, and resulting in a strong transformation of this beautiful country. We are proud to be associated with this success.” Ameer said: “I take this opportunity to thank the OPEC Fund for the continued support provided to us to build a resilient Maldives where we are able to pursue economic growth and continue our development initiatives to secure the future and wellbeing of our people. With partners like you by our side, we are ready to embark on a steady course for the future.” While in the South Asian country, Dr Alkhalifa met with the President of the Maldives Ibrahim Mohamed Solih and discussed closer development collaboration. The OPEC Fund’s delegation also visited other development projects supported by the organization. These included the Velana International Airport Project – the largest infrastructure project in the Maldives, expected to

“With partners like [the OPEC Fund] by our side, we are

ready to embark on a steady course for the future.”

Ibrahim Ameer, Maldives’ Minister of Finance

accommodate 7.5 million passengers annually by 2025; and the Addu Equatorial Hospital Project, due to open soon, making it the only regional hospital in the south and the third largest in the country. The hospital will help improve the health of approximately 76,000 people. The delegation also visited the Provision of Water Supply, Sanitation and Solid Waste Management Project, which is expected to improve health standards and living conditions for more than 120,000 people on 49 islands. This builds on phase one of the project, also supported by the OPEC Fund, which improved living conditions for around 12,000 people on five islands.

To date, the OPEC Fund has approved

23 Public Sector loans to the Maldives totaling n. S

sanitation, agriculture, banking and financial services, telecommunications, health and education sectors The Maldives has also benefited from the OPEC Fund’s Private d

nefited ivate

Sector, Trade Finance and Grants financing.

See also pages 14-15 and 48-49 for more on the Maldives.

mmunications, ors.

more than US$209 million. Supported projects include those in the transport, water andport, water and nking and


Above: Dr Alkhalifa met with the President of the Maldives Ibrahim Mohamed Solih and discussed closer development collaboration.

Left: Dr Alkhalifa and Maldives’ Minister of Finance

Ibrahim Ameer at the signing ceremony.


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