Islamic Development Bank (IDB) has decided to grant an aid of $117 million to the Maldives.
Finance minister Ahmed Munawar revealed that the discussion on granting aid took place on the sidelines of the Annual IDB meeting 2017.
President of IDB, Bandar M. H. Hajjar and the finance minister conducted discussions on various projects in the Maldives. Major waste management and infrastructure projects are amongst projects receiving financial assistance from IDB.
The IDB is an international Islamic financial institution established to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari’ah ie., Islamic Law.
