As a result of the COVID-19 pandemic, government revenues have decreased and are expected to be much lower than the approved budget for 2020. Since the budget deficit may be higher than the approved amount, financial requirements are consequently increased. To meet these requirements, International Financial Institutions and Bilateral Partners have provided foreign aid. The details are listed below. (Note: This section will be updated on a weekly basis)
Data as at: 12 June 2023
| Donor | Amount in millions of USD | Type | Details |
|---|---|---|---|
| Asian Development Bank (ADB) | 1.3 | Technical assistance and Grant | ADB's Asia Pacific Disaster Response Fund provided USD 500,000 with an additional Technical assistance of USD 798,000 for the initial emergency response. This will be utilized for immediate response of the Pandemic. |
| 50.0 | 50% Grant - 50% Loan | ADB's COVID-19 Active Response and Expenditure Support (CARES) programme to support the implementation of the government's COVID-19 health response measures by setting-up and scaling-up testing &treatment facilities and capacity. | |
| 1.0 | Grant | ADB's Asia Pacific Disaster Response Fund provided an addition grant of USD 1,000,000 for the procurement of essential supplies related to COVID-19, provision for overtime salary and transportation for health and frontline workers, recruitment of emergency health workers and laboratory experts, financing of transport and supply-chain logistics, and provision of any additional goods or supplies required for disease preparedness. | |
| Asian Infrastructure Investment Bank | 7.3 | Loan | AIIB has provided USD 7.3 million as part of the co-financing with WB for the COVID-19 Emergency Response and Health Preparedness project. |
| European Investment Bank | 22.6 | Loan | EIB's EUR 20 million loan received to help sustain SMEs operating in the tourism and industry sectors in Maldives. |
| 23.6 | Loan | EIB provided EUR 20 million as Phase II of COVID-19 Rapid Response to Maldives: loan received to help sustain SMEs operating in the tourism and industry sectors in Maldives. | |
| 21.7 | Loan | EIB has provided a loan of EUR 18.4 million under EIB's South Asia Public Healthcare COVID-19 Program Loan for the Establishment of National Heath Laboratory (NHL) and COVID-19 Facilities in Maldives | |
| Government of India through State Bank of India (Male' Branch) | 250.0 | Domestic Treasury Bond | The Government of India has provided a financial assistance of USD 250 million by investing through the State Bank of India (Male') in the GOM Domestic Treasury Bond as budget support. |
| International Finance Corporation | 20.0 | Loan | IFC has provided a loan to Bank of Maldives as support to the Private Sector of the Tourism Industry. |
| International Fund for Agriculture Development | 4.5 | 27% Grant, 73% Loan | IFAD has provided USD 4.5 million under the Maldives Agribusiness Programme to increase income, food security and nutrition status of small farmers. |
| International Monetary Fund | 28.9 | Interest Free Loan | IMF provided a Rapid Credit Facility to support the country's balance of payment. |
| Islamic Development Bank | 15.1 | Grant and Loan | ITFC provided USD 15 million as loan and USD 0.05 million as grant to STO for the procurement of medicines, food and medical equipment to combat the Pandemic. |
| 0.6 | Loan | IsDB has provided emergency financing by diverting funds from the completed Harbor Istisna'a Project towards the provision of ICU equipment and devices for a regional hospital and related costs. | |
| 20.0 | Loan | IsDB has provided financing under its emergency response to COVID-19 pandemic (Phase 2) for the strengthening of critical care services, prevention of infections, protection of frontline health workers, strenghtening MoH diagnostic capacity for outbreaks and enhancing disease surveillance capacity. | |
| Japan International Cooperation Agency | 47.5 | Loan | JICA has provided a loan of 5 billion Japanese Yen for supporting the Government of Maldives in its response to COVID-19 crisis response. The objective of the project is to mitigate the negative social and economic impact of the pandemic through concessional financing to implement the economic policy and expansion of the social welfare for the vulnerable population, thereby contributing to promoting the country's socio-economic stabilization and development efforts. The Project will be in the form of co-financing with the COVID-19 Active Response and Expenditure Support Program by the Asian Development Bank (ADB). |
| OPEC Fund for International Development | 20.0 | Loan | OFID has provided a budget support loan for the GoM's Public Sector Investment Program. |
| World Bank | 10.0 | 50% Grant - 50% Loan | Catastrophe Deferred Drawdown Option, triggered, and received USD 10 million. This will be utilized for budget support. |
| 12.8 | 50% Grant - 50% Loan | COVID-19 Emergency Income Support Project has been signed. Objectives include the provision of temporary assistance to workers affected by the Pandemic, and strengthening social protection delivery systems and institutions. | |
| 7.3 | 50% Grant - 50% Loan | COVID-19 Emergency Response and Health Systems Preparedness Project signed and effective. Disbursements are ongoing, and this will be utilized for the immediate response of the Pandemic. | |
| 1.0 | Grant | WB's Pandemic Financing Facility (PEF) received to acquire diagnostic tests, medical and laboratory supplies and equipment. | |
| Total | 565.2 million | ||
| Donor | Amount (in USD unless stated otherwise)/Type | Details |
|---|---|---|
| Australia | In Kind | PPEs |
| Bangladesh | In Kind | Medical Team |
| PPE, Medicines and Commodities | ||
| Food Aid | ||
| Canada | Project Support CAD 100,000 (approx. MVR 1 million) | Provide immediate basic needs and build capacity to support those impacted by the pandemic |
| China | In Kind | PPE, Diagnostic equipment, care beds and ventilators |
| China - Wellwishers | In Kind | PPE, Diagnostic equipment, care beds and ventilators |
| European Union | Grant: 3 million | Assistance to Health and Tourism sector |
| India | In Kind | Evacuation of students in Wuhan, China (with help of Indian Government) |
| Medical Team | ||
| PPE and Medicines | ||
| Food Aid | ||
| Japan | In Kind | PPE and Medicines |
| Grant: | Emergency Grant through UNICEF and Red Crescent for the procurement of medical equipment/consumables, technical assistance and education sector | |
| UNICEF: 356,400 | ||
| Red Crescent: 185,000 | ||
| UNDP: 1.4 million | UNDP Grant to support SME's affected by COVID-19 | |
| USD 5.6 million | Grant to promote economic and social development of the country | |
| Japan - Wellwishers | In Kind | PPE |
| Korea | In Kind | PPE |
| Malaysia - Wellwishers, CP Stationery | In Kind | PPE |
| Maldives - Wellwihsers, Owners of Velaa Private Island | In Kind | Diagnostic Equipment |
| Singapore - Wellwishers, Owner of Pontiac Land Group | In Kind | PPE |
| Singapore - Wellwishers, Former High Commissioner of Singapore to Maldives, H.E. Chua Thian Poh | In Kind | PPE |
| Singapore - Wellwishers, Owners of Hiap Huat Paints Co. | In Kind | PPE |
| Singapore - Wellwishers, Owners of Hotel Properties Limited Singapore | In Kind | PPE and Ventilators |
| Singapore - Wellwishers, Minor Group | In Kind | Diagnostic Equipment |
| Singapore - Wellwishers, Temasek Foundation | In Kind | PPE and Diagnostic Equipment |
| Thailand - Wellwishers, Director of Crown Company | In Kind | PPE |
| Thailand - Wellwishers, Thai Travel Agent, Consulting Manager of Maldives Travel Expert Co. Ltd | In Kind | PPE |
| UNICEF | In Kind | E-learning support for AV classrooms |
| Technical Support | Technical Assistance in preparing SOPs for emergency response for Education sector | |
| United Arab Emirates | In Kind | PPE, Diagnostic equipment |
| UAE - Wellwishers, UAE Royal Family | In Kind | PPE, Diagnostic Equipment, Ventilator |
| USA | In Kind | PPE and Medicines |
| Grant | Economic Recovery Support | |
| In Kind | Diagnostic Equipment | |
| Grant: 750,000 | Assistance for schools and community spaces to reopen safely |
