World Bank's total net commitment to the Maldives at US$ 182 mln

The World Bank portfolio in the Maldives currently consists of 10 active operations with total net commitment of $182 million the bank has said.

The information was disclosed in a statement released by the bank following The World Bank’s Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos' successful two-day visit to the Maldives.

The World Bank responded to the COVID-19 pandemic in the Maldives in April 2020 with a $7.3 million COVID-19 Emergency Response and Health Systems Preparedness Project to help the country prevent, detect and strengthen its public health preparedness. In addition, $10 million in contingency financing, under Disaster Risk Management Development Policy Financing with a Catastrophe Deferred Drawdown Option, and Pandemic Emergency Facility of $952,000 have also been made available to support Maldives. Further, to mitigate the economic impact of the COVID-19 crisis on workers and their families, and to increase the capacity of social protection programs to respond to future emergencies, the COVID-19 Emergency Income Support Project of $12.8 million was approved in June 2020 and later extended in January 2021 with additional financing of $21.6 million, bringing the total net commitment to $182 million.

The statement released by the World Bank said it is committed to supporting Maldives in building back better for inclusive and sustainable economic growth, and achieving its development goals.