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Japan grants MVR 21.7 mln through UNDP to support Maldives’ economic recovery

The government of Japan granted MVR 21.7 million through the United Nations Development Programme (UNDP) to the Maldives on Thursday.

According to the Ministry of Foreign Affairs, the grant aid package aims to assist the island nation to overcome the challenges faced due to the ongoing COVID-19 pandemic, and gear up towards recovery.

The ministry noted that the package of MVR 21,740,400 will benefit both the government and local entrepreneurs in opening up the economy post-lockdown.

“It will also enable greater investments to address and diversify the economic base while exploring new avenues of entrepreneurship, and contributing to the overall objective of stimulating economic growth in the long-term”, added the ministry in a press release.

The Maldivian administration thanked Japan for the grant aid and UNDP for its assistance in securing the funding.

Highlighting that Japan is an important bilateral development partner of Maldives, the foreign ministry further highlighted that the two countries are in talks to increase the capacities of health service providers in the Maldives to mitigate the spread of COVID-19.

The government of Japan also extended an emergency grant totalling USD 541,400 earlier this month, to aid Maldives’ response to the novel coronavirus. Japan donated USD 356,400 of the grant to UNICEF and the remaining USD 185,500 to the Maldivian Red Crescent.

Full details are available at the link below:

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Source URL: Google News

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