Asian Development Bank (ADB) has given a USD 10 million grant to the Maldives.

At a ceremony held at Finance Ministry on Tuesday, the grant agreement was signed on behalf of Finance Ministry by Minister Ibrahim Ameer and Deputy Director General of ADB, Manmohan Prakash on behalf of ADB.

Finance Ministry said on Tuesday that the ADB grant was to bring and store new Covid-19 vaccines to the Maldives. The Ministry added that funds from the grant will also be used for the development of the health sector in the Maldives.

ADB has been giving grants for various development projects in the Maldives. As such, in 2019 ADB gave the Maldives a USD 11 million grant to install a border control high tech system. In the same year, ADB have another USD 70 million grant to the Maldives.

ADB has also contributed to environmental and housing sectors in the Maldives.

In 2020, ADB gave Maldives a USD 500,000 grant to help Maldivian efforts against Covid-19. In the same year, ADB provided an additional USD 25 million grant as well.