Maldives seeks over USD 200 million in foreign aid to combat Covid-19

The Maldivian government is seeking over USD 200 million in foreign aid, in managing the country's finances amid the Covid-19 pandemic.

In a letter seeking the approval of the People’s Majlis, which was read at Wednesday’s virtual sitting, Finance Minister Ibrahim Ameer said that USD 215.37 million is required to manage the country’s cash flow amid the ongoing pandemic.

The letter noted 11 parties in which the government is seeking aid from. They are;

While the World Bank has offered a contingency financing of USD 10 million, the finance minister noted that the country will receive USD 30 million from the International Monetary Fund “soon”.

Ameer added that the government is also seeking help from friendly nations.

Further, while the government has decided to decrease state expenditure by MVR one billion, the minister stressed that they are working to reduce this further.