President Dr. Mohamed Muizzu has today met with the Chairperson and CEO appointed to the country's first development bank, the Development Bank of Maldives.
The meeting with Chairperson Aruni Goonetilleke and CEO Noel Gregor Paterson-Jones was held at the President's Office.
At the meeting, President Muizzu, the Chairperson and CEO of the Development Bank of Maldives had a discussion about ways to improve and diversify the Maldivian economy, drawing on the Chairperson and CEO's extensive knowledge and experience in the field.
Chairperson Aruni Goonetilleke is a financial services expert with over 25 years of experience in global financial markets, specializing in business origination, governance, credit assessment, and risk management in emerging markets. Her background includes transformational roles in Corporate Banking, Credit, Risk Management, and Internal Audit across international and Sri Lankan banks. She holds a Master of Laws (LL.M) from Harvard University. She is a Sri Lankan-born Singaporean.
CEO Noel Gregor Paterson-Jones has been a key figure in green investments, leading the establishment of the National Infrastructure Fund in Saudi Arabia as Chief Investment Officer. He also chairs the Electric Vehicle Africa Fund and manages clean energy projects in Southeast Asia, demonstrating his expertise in green finance and infrastructure development. He holds a Master of Philosophy (MPhil) from Oxford University, UK.
The government has previously said that the bank will invest in sustainable economic and social development areas and raise funds for infrastructure development in line with government policies.
In addition, the government has addressed the challenges faced in funding PSIP projects and increased the attractiveness of foreign currency deposits in the country's banking system.
The government says it had to introduce a development bank into the banking system because the existing banking system does not have enough space to bring about the development that the people want. The establishment of the bank will facilitate the provision of loans and funds for development.
