EIB loans Maldives with 20 million Euros.

Male’, Maldives – The European Investment Bank (EIB) has provided a loan of 20 Million Euros to Maldives.

EIB tweeted today that they have provided Maldives with this loan to enable the country to recover faster from the economic effects of the Covid-19 pandemic by helping to sustain the SMEs, sustain jobs and have a positive impact on the stability of the local financial market.

EIB also mentioned that they will be providing the 20 million Euro loan through Bank of Maldives (BML).

This is the first time EIB provided support to an Asian country regarding the Covid-19. Nevertheless, the Bank announced on April that they will be financing 5.2 billion Euros to countries non-EU countries as well.

Regarding the support provided by EIB, the Finance Minister of Maldives, Ibrahim Ameer showed gratitude towards EIB for providing help during this situation and mentioned that this shows the good bond between EU and Maldives.