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Islamic Development Bank approves USD 65 million loan to promote fisheries in Maldives

Oct 15, 2024, 4:11 AM

The Islamic Development Bank (ISDB) has approved a USD 65 million loan to the Maldives to promote fisheries.

According to the ISDB website, 20 projects have been approved in 17 member countries. The projects are worth USD 3 billion.

The loan approved for the Maldives is worth USD 64.65 million. The loan assistance aims to bring sustainable economic development.

Apart from the Maldives, Pakistan is the only other South Asian Association for Regional Cooperation (SAARC) member country to receive ISDB assistance. Most of the countries confirmed for loan assistance are developing countries.

The ISDB is a development bank with 57 member countries. The bank provides Islamic financing for urban development projects.

Fisheries

Comments

Fishing in the north slows down due to high oil prices

Apr 2

BKMU Fishermen end week-long protest

Dec 17

Protesting fishers demand President Muizzu and Minister Shiyam's resignation

Dec 14

Fish purchasing price at MVR 16 per kilo

Dec 14

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