President Abdulla Yameen Abdul Gayoom, on Tuesday, discussed the financial assistance received by Asian Development Bank (ADB) for various projects in the Maldives with the finance institution’s vice president Mr Wencai Zhang.
During the courtesy call paid by Zhang at the president’s office, the President expressed sincere appreciation for the support and cooperation extended to the Maldives over the years. The President also noted with confidence in ADB as a close development partner of the Maldives and the Maldivian people.
The discussions at the call consisted of ongoing assistances by ADB in enhancing and strengthening the different sectors and capacity development of the Maldives. The President commented that the development of these sectors would greatly benefit the economy and prosperity of the country.
The Vice President of ADB commended the economic transformation and the rapidly growing economy of the Maldives.
The call concluded with exchanges of confidence in continued support and cooperation between ADB and the Maldives.
The President was accompanied at the courtesy call by the Minister of Finance and Treasury, Ahmed Munawwar and Minister of State for Foreign Relations at the President’s Office, Mohamed Naseer.
The Vice President of ADB was accompanied by the Economist of ADB, Mr. Masato Nakane and Senior Urban Development Specialist, Mr. Ron Slangen.
The government had earlier announced that ADB is funding 50 percent of the major project to solve the country’s waste management crisis. ADB is also fixed on financially assisting all upcoming projects in the Maldives over the next three years.
The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.
ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
ADB is composed of 67 members, 48 of which are from the Asia and Pacific region.
