OFID yet to grant $40M loan, though ministers claim otherwise
The Maldivian government requested the loan to develop sewer facilities and build harbours in eight islands
Entrance to the Finance Ministry headquarters in capital city Malé
The OPEC Fund for International Development (OFID) has not yet approved the USD 40 million public sector loan, requested by the Maldivian government.
The Maldivian government requested the loan to develop sanitation and sewer facilities in five islands, and build shipment harbours in three.
In July this year, just months before the presidential elections, the Tourism and Finance ministers said at a joint press conference that the loan has been received, and later affirmed that physical work on said projects have begun.
However, RaajjeMV has received credible information that the loan has not yet been received. OFID has funded four projects in the Maldives this year, amounting to USD 20.3 million.
Finance Minister Ahmed Munavvar declined to provide a comment in response to this information.
OFID has supported social and economic development projects in the Maldives since 1977. The financial institution has also provided private-sector aid such as extending credit to local companies.
OPEC (Organization of the Petroleum Exporting Countries) established OFID in 1976.
