UNDP grants USD 1.4 mln for Maldives agricultural sector

UNDP has granted USD 1.4 million as an aid to develop and expand the agricultural sector of the Maldives.

The aid agreement was signed on behalf of the Maldives by Economic Minister Fayyaz Ismail and Fisheries and Agricultural Minister Zaha Waheed. On behalf of the UNDP, it was signed by the Resident Representative Akiko Fuji.

Under the UNDP’s seed project “Sustainable Economic Empowerment and Development of the SMEs" Economic Ministry will disburse the funds through Agro National Corporation, Business Centre Corporation, Housing Development Corporation, and Maldives Polytechnic. The assistance will be provided for 2000 parties.

The Maldives has been seeking overseas assistance to mitigate the economic impact faced by the country due to COVID-19 pandemic. In that regard, the government has been working to secure USD 200 million from international financial institutions.