Government of Maldives and Kuwait Fund for Arab Economic Development signed a grant agreement to provide grant aid over KWD 3.6 Million for building coastal protection structures in Fuvahmulah island. This project is funded by Netherlands Enterprise Agency (ORIO) and Kuwaid Fund for Arab Economic Development’s grand aid.
This project would bring sustainable economic, environmental and social development to Fuvahmulah city. This loan includes 1.5% interest with a grace period of 04 years.
The total cost of this project is USD 22 million.