The government of Maldives has signed on a grant agreement concerning special operations and a loan agreement concerning ordinary operations concessional with the Asian Development Bank (ADK).
The grant worth USD5 million and the loan agreement worth another USD5 million are issued to the Maldives government to finance the National Single Window Project.
Finance Minister Mr Ibrahim Ameer had signed on the agreement on behalf of the Maldives government while Mr Ronald Antonio Butiong the country director of ADB signed on behalf of the fund. In addition to the Finance Minister Mr Ameer the ceremony was also attended by the Minister of Economic Development and other senior officials of both Finance and Economic Development ministries.
Under the National Single Window Project, information and communication technology (ICT) to provide online access to carry out border control procedures will be leveraged. Due to this traders and other service providers can “transact business using electronic forms.”
In addition to this, the project will also “facilitate sharing of harmonized data to enable automated processing of documents across stakeholder systems.”
This in turn will allow government’s sectorial strategy to establish a single window system for international trade facilitation.