Islamic Development Bank

The Islamic Development Bank (IsDB) is a multilateral development bank working to improve lives by promoting social and economic development in Muslim countries and communities worldwide, delivering impact at scale. IsDB was established in December 1973, and formally opened on 20th October 1975. The IsDB group comprises of several branch institutes specializing in different functions. The main sectors IsDB supports includes infrastructure, education, science and technology, health, humanitarian relief, and women and girls. Their products include loans, grants, and technical assistance in different areas. 

The first loan from the IsDB to Maldives was in 1982 for the Airport Project. Since then, IsDB has assisted the country in areas of infrastructure development and the development of health, education, and economic sectors .


IsDB in the Maldives

YearProjectCurrencyAmount
2020Emergency Response to Covid-19 Pandemic Phase IIUSD20,000,000
2020COVID-19 Amendment to Istisna Agreement and its related Agency AgreementUSD594,000
2014Reconstruction of Harbors Project Phase II (Istisna)USD12,000,000
2014Reconstruction of Harbors Project Phase II (Loan)XDR5,300,000
2013Sanitation Project in Five Islands (Loan)XDR4,600,000
2013Sanitation Project in Five Islands (Istisna)XDR5,270,000
2013Micro Enterprise Development ProjectXDR1,400,644
2012Development of a Quarantine Facility Project in HulhumaleXDR37,129
2008Construction of Harbors for Tsunami VictimsUSD5,325,092
2007Reconstruction of Housing Units for the Tsunami Victims ProjectXDR4,234,269
2007Import Trade Financing Loan 2USD8,300,000
2006Trade Financing LoanUSD11,492,765
2005Micro Finance Project to the Bank of MaldivesXDR1,970,993
2004Atoll Social Infrastructure ProjectXDR221,640
2004Development of Water Supply and Sewerage Facilities in AtollsXDR89,757
2004Health and Education Phase IIXDR628,150
2002Gan/Hithadhoo Link Road Phase IIXDR1,577,000
2001Health and Education ProjectXDR1,633,908
2000Vilingili Harbor ProjectXDR3,316,605
2000Gan Hithadhoo Link Road ProjectXDR3,026,000
1999Construction of IHS ProjectXDR2,128,221
1997Malé Primary SchoolXDR2,990,208
1995Four Regional Hospitals ProjectXDR2,328,716
1995Regional Secondary SchoolXDR1,610,769
1994Vilingili Water Supply ProjectXDR1,458,110
1990Airport Extension ProjectXDR1,948,154
1986Refinancing of Merchant Shipping LoansXDR6,697,973
1982Airport ProjectXDR1,791,210
Website link: www.isdb.org

Governor for the Maldives at the IsDB: Mr. Ibrahim Ameer

Alternative Governor for the Maldives at the IsDB: Mr. Fayyaz Ismail

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