World Bank launches new Maldives strategy

The World Bank earmarked USD45 million in concessional funds to assist Maldives in meeting its development targets and support of the country’s Poverty Reduction Strategy. “Maldives has already met all but two of the Millennium Development Goals and has drastically reduced poverty,” said World Bank country director Alastair McKechnie. “The new World Bank Group country assistance strategy comes at a time when the country faces new issues – constitutional change, pressures for unsustainable fiscal deficits, and vulnerability to economic shocks and global climate change – that could offset or potentially roll back some of these development gains.” (Press release: Maldives: World Bank Launches New Assistance Strategy/World Bank)

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