Maldives to get US$40 mn OPEC loan
The Maldives housing minister took a swipe at the EU for approving sanctions.
17 Jul 2018, 9:00 AM
The Maldives is to get a US$40 million (MVR616.8 million) concessional loan from the OPEC Fund for International Development, the government said Monday as a minister took a swipe at the European Union for approving targeted sanctions because of worsening rights in the country.
The loan will be used for harbour construction, airport building and setting up sewage systems.
It is not clear if the funding is new or is part of the US$159.6 million OFID project portfolio in the Maldives.
There are 15 projects listed in the portfolio and just four are ongoing: two are related to sanitation, one to regional hospital development and the fourth to the development of the Maldives’ main international airport.
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