Government signs EUR 18.4 million loan agreement with EIB
According to a press statement by the Ministry of Finance, the highly concessional loan proceeds will be used to establish a modern National Health Laboratory.
Source: Ministry of Finance
Minister of Finance Ibrahim Ameer has on 22 June 2022 signed yet another loan agreement – this time borrowing EUR 18.4 million from the European Investment Bank (EIB), for the financing of Maldives Covid-19 Health Facility Project.
According to a press statement by the Ministry of Finance, the highly concessional loan proceeds will be used to establish a modern National Health Laboratory, and develop 18 isolation facilities in the atolls – to improve the country’s resilience to COVID-19 and potential future pandemics.
The project is expected “to enhance the current capacity of the health centres and improve the critical capabilities for infectious disease preventions, controlling, monitoring, and improve food and pharmaceutical safety in the country”, as per the statement by the Ministry of Finance.
Just one week back, on 16 June 2022, Government signed a loan agreement for EUR 101 million for the Gulhifalhu Reclamation Project. International institutions and technical experts have been warning on the alarming unsustainable sovereign debt position of the Maldives, and the risks of foreign currency reserve depletion.
