Asian Development Bank (ADB) has granted a financing package to the Maldives, worth USD21 million, aimed at enhancing the disaster management efforts and food security concerns due to climate change. The bank announced that USD4 million of the package is issued as a loan, while USD17.95 million is a grant provided by the bank.
ADB stated that the financial assistance provided will support the Maldives in enhancing the strengthening the disaster prevention and management efforts and in achieving food security. This includes upgrading and modernising the equipments in the Maldives Meteorological Service (MET Office), installing an Early Warning System in Male' and Addu City and installing Storm Water Drainage System in Kulhudhuffushi City.
Furthermore, Climate Smart Urban Perming equipment will be introduced to the Maldives, and residents from Haa Alif Atoll and Addu City will be familiarised with the equipment, under this financial assistance. Additionally, ADB mentioned the development of a multipurpose facility in the agriculture centre situated in Hanimaadhoo, Haa Dhaalu Atoll, to conduct relevant studies.
While ADB has provided a financing package, worth USD21 million, the bank plays a significant role in the economic and infrastructural development of the Maldives.