Two agreements have been signed between the Maldivian government and the World Bank, where the latter will provide the country with an assistance of USD 30 million

On behalf of the Maldivian government, Minister of Finance Ibrahim Ameer signed the agreement while World Bank's Director to Maldives, Nepal and Sri Lanka Dr. Idah Z. Pswarayi-Riddihough signed on behalf of the World Bank.

Half of the amount being provided is a grant while the remainder is being provided as a loan. Under the first agreement, USD 20 million will be used to strengthen the government's budget policy framework. The remaining USD 10 million is to be used to enhance the readiness to minimize the impact that the country may face from any disasters caused due to climate change.

The assistance is being provided under the Cat DDO and Pandemic Emergency Financing Facility.