World Bank shares portfolio review with Ministry of Finance

World Bank shares its portfolio review with Ministry of Finance.

The bank’s review mainly focused on the progress and the challenges of several infrastructural and other developmental initiatives led by the bank in the Maldives. The review handing was held on Tuesday, November 01 at JEN Maldives Male’ by Shangri-La.

Senior members of the bank along with the ministry’s State Minister Ismail Ali Manik, Minister of Fisheries Hussain Rasheed and project managers of the initiatives attended Tuesday’s ceremony.

The portfolio was developed using the survey data collected by World Bank, assisted by Ministry of Finance. Data was collected from all key and relevant government bodies and project contractors.

The bank confirms 10 various developmental projects in the Maldives are currently funded through them.

During Tuesday’s ceremony, highlights were made on the reform framework to overcome challenges. The ministry highlighted these challenges and their suggested solutions for effective project management.

Meanwhile, it was reported that World Bank is currently gearing to launch a USD50 million initiate to enhance the fisheries sector development, expected to commence in 2023.

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