US$ 10 mill. NSW project signed with ADB

An agreement has been signed between the government of Maldives and Asian Development Bank (ADB) on a National Single Window (NSW) project worth US$ 10 million.

The agreement was signed at the ongoing Maldives Partnership Forum by Finance Minister Ibrahim Ameer and ADB's Country Director to the Maldives Ronald Burton.

The NSW project is being implemented under South Asia Sub-regional Economic Corporation (SASEC). US$ 5 million, half of the total agreement amount is a grant assistance under ADB's Special Operation while the remaining US$ 5 million is a loan issued by ADB under their Ordinary Operation.

Under the project, an electronic mechanism through which local businesses and service providers can conduct business transactions will be established in addition to the development of the ICT sector relevant to border control procedure, and providing online access.

Furthermore, a national single window system will be established especially for international trade facilitation in the Maldives.