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Economic Aid to Maldives

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Title: Economic Aid to Maldives  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of the Maldives
Publisher: World Heritage Encyclopedia

Economic Aid to Maldives

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Before the 1980s, the Maldives received limited assistance from UN specialized agencies. Much of the external help came from Arab countries such as Saudi Arabia, Kuwait, and the UAE, for use on an ad hoc basis rather than as part of comprehensive development plan. However, with the developmental commitment of President Maumoon Abdul Gayyoom, who assumed office in 1978, Maldives received an annual average of US$15.5 million in external assistance in the form of grants and loans.

In 1992, Maldives received approximately US$11.6 million in foreign aid from international agencies such as the World Bank, Asian Development Bank and individual countries, particularly Japan. Other than humanitarian aid, loans and grants went for such purposes as education, health, transport, fisheries, and harbor development.

The United Nations Development Programme is providing support to the Maldives for environmental projects.

Debt growth

Debt - external: estimated in US dollars

1998 - $188 million
2000 - $237 million
2004 - $416 million
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