US Provides US$7.2 Million in Additional Grants to Maldives
The Maldives and the United States have signed the tenth amendment to the Development Objective Grant Agreement (DOAG), in In a significant development in the ongoing partnership between the two countries.
The Development Objective Grant Agreement was initially signed on March 12, 2019. The development cooperation agreement has witnessed a gradual increase in funding over the years. With the latest amendment, the USA has committed an additional USD 7.2 million to the Maldives. The amendment brings the total funding to USD 36.1 million.
“The funds will be utilised to strengthen the technical capacity of the Maldives in managing public finances and bolster the resilience of the country’s economic and democratic governance,” the Foreign Ministry said in a statement.
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