Japan issue USD47.5mn loan to Maldives on 0.01% interest


Japanese government have made issuance of USD47.5 million (MVR732.4 million) to Maldives.

Moreover, Japan confirms the loan has been granted with a 15-year settlement period on a 0.01% interest rate.

Ministry of Foreign Affairs further concurred the fresh development.

Furthermore, the governments of Maldives and Japan signed on Exchange of Notice for the grant of 5 billion Japanese Yen towards Covid-19 efforts.

Minister of Foreign Affairs Abdulla Shahid signed on behalf of Maldives government for the concessional loan.

On the other hand, Japanese ambassador to Maldives Keiko Yanai signed on behalf of the East Asian state.

Meanwhile, Japan continues its support to Maldives amid the global pandemic.