World

ADB approves grant to Maldives for fiscal management

MANILA
2023-09-01 11:42

Already collect



MANILA, Sept. 1 (Xinhua) -- The Asian Development Bank (ADB) on Friday said it has approved an 18.7 million U.S. dollar policy-based grant for the Maldives to help the country strengthen its fiscal management.

The Manila-based bank said the fiscal management program supports structural fiscal reforms until 2025 by focusing on domestic resource mobilization as well as expenditure and debt management amid fiscal and debt situation exacerbated due to the pandemic and recent global economic downturn.

The program will also promote renewable energy sources and the rationalization of fuel, electricity, and health care subsidies.

"The ADB will support the country's efforts to restore fiscal sustainability by prioritizing legal, regulatory, policy, and institutional reforms governing revenue mobilization, and expenditure and debt management," said ADB Public Management Economist Chandan Sapkota.
Add comments

Latest comments

Latest News
News Most Viewed