The Asian Development Bank (ADB), established in 1966, is a multilateral development finance institution with 67 member countries. Its mission is to help member countries reduce poverty and improve the quality of life for their people. Maldives joined ADB in 1978 and has always been receiving assistance from the ADB through the Asian Development Fund (ADF). At present, Maldives is entitled to grants and concessional funding through ADF and external financing through financial partners of ADB. ADB funding is based on projects that align with the overall mission of the ADB as well as the development goals of the recipient country. These are determined through discussions with government and focus sectors. In this regard, the priority sectors outlined by the ADB in the Country Operations Business Plan (COBP) 2017–2019 are energy, environment, waste, transport and public sector management.
- Public Sector Management
Maldives is also a member of South Asia Sub regional Economic Cooperation (SASEC) program of ADB. It is an initiative to strengthen cross-border trade, to improve energy security, to develop economic corridors and to improve regional cooperation.
The first loan from the ADB to the Maldives was in 1981 for the inter-island transport project. Since then, the Bank has been assisting the country with loans, grants and technical assistances in the areas such as transport, environment, ports development, education, health, energy and private sector development.
Governor for the Maldives at the ADB: Ahmed Munawar