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Maldives has discussed setting up an emergency credit facility with the OPEC Fund to support key development projects and respond to unexpected financial needs.
Mariyam Adheela
Maldives seeks OPEC Fund support for an emergency credit facility and key development projects
Doha: Maldives has held talks with the OPEC Fund for International Development on establishing an emergency credit facility for the country.
Finance and Public Enterprises Minister Hassan Zareer held discussions with OPEC Fund President Dr Abdulhamid Alkhalifa in Doha.
The talks focused on strengthening cooperation under the Country Partnership Framework signed between the Maldives and the OPEC Fund in January.
The Maldives proposed support for key areas, including water, sanitation and port development. The government also highlighted the need for a credit line that could be used during emergencies.
The OPEC Fund has provided more than US$440 million for development projects in the Maldives since 1977, according to the Maldivian government.
Zareer also met senior officials from Qatar National Bank to discuss financial cooperation and investment.
He held separate talks with Kuwait’s Finance Minister Dr Yacoub Al-Sayyid Al-Rifai on health and climate related projects and possible support through the Kuwait Fund for Arab Economic Development.
Speaking at the AIIB annual meeting, Zareer also stressed the need for innovative and sustainable approaches to infrastructure development.
