Asian Development Bank
4 articles
BusinessADB approves USD 50 million loan for Maldives' oil imports
The ADB approved a $50 million emergency loan to help the Maldives import diesel for essential services like electricity and water. This funding addresses rising fuel costs and foreign exchange shortages caused by regional conflict. It follows a similar $40 million loan from the World Bank to ensure the country's energy security.
BusinessMaldives growth to drop to one percent: ADB
The ADB predicts the Maldives' economic growth will drop to 1 percent this year due to the Middle East conflict's impacts on tourism and fuel prices.
