Grant agreement signed with Netherlands to finance the Coastal Protection project of Fuvahmulah city

28 Nov 2017

Government of Maldives has signed a grant agreement with the Kingdom of Netherlands to finance the Coastal Protection project of Fuvahmulah City.
The USD10.7 million grant agreement was signed in a function held at STELCO today by the Minister of Finance, Ahmed Munawwar and Ms. Eva Van Woersem, Deputy Head of Mission, Counsellor, Embassy of the Kingdom of Netherlands, Srilanka.
This project is being made possible with the generous aid from the Netherlands Enterprise Agency, ORIO and Kuwait Fund for Arab Economic Development. The total project cost is approximately 25.5 Million USD.
This project will develop a 2,650 metre revetment around the coast of Fuvahmulah.
During the last four years MVR 597 million was allocated for coastal protection and further MVR 133 million is allocated in 2018 Budget.
The ceremony held to sign the agreement was attended by the Minister of Environment and Energy, Thoriq Ibrahim, Speaker of the Majlis Mr. Abdulla Maseeh and Mr.Sanjay Bansal, Dutch Honorary Consul based in Maldives and other senior officials of Ministry of Environment and Energy and Ministry of Finance.