Fuel Price

15 articles

ADB 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.

2 months ago

Business

Govt takes USD 80 million in loans for fuel imports and harbors

The Maldivian government secured $80 million in loans from the OPEC Fund and the World Bank to finance harbor development and fuel imports. These funds aim to mitigate energy market volatility and support critical services. While external borrowing remains controlled, rising national debt and high servicing costs present ongoing challenges.

3 months ago