Maldives, ADB Sign USD 50 Million Energy Security Emergency Assistance Agreements

The financing also forms part of the Government’s broader efforts to secure funding from multilateral institutions on concessional terms

Mohamed Hilmy

16 August 2026, 15:09

The Government of Maldives and the Asian Development Bank (ADB) have signed agreements for a USD 50 million Energy Security Emergency Assistance Project aimed at helping the country respond to elevated global energy prices.

The Loan Agreement was signed by Minister of Finance and Public Enterprises Hassan Zareer on behalf of the Government of Maldives, while the Project Agreement was signed by State Trading Organization (STO) Chief Executive Officer and Managing Director Shimad Ibrahim.

Dr. Thiam Hee Ng, Regional Head of the Regional Cooperation and Integration Unit at ADB’s South Asia Department, signed both agreements on behalf of the Asian Development Bank.

According to the Government, the emergency assistance project is intended to support the Maldives in addressing the impact of higher global energy prices stemming from ongoing geopolitical developments in the Middle East.

The financing also forms part of the Government’s broader efforts to secure funding from multilateral institutions on concessional terms. Authorities said this approach is aimed at reducing risks to the Government’s debt portfolio while supporting its debt sustainability objectives.

The Government highlighted ADB’s longstanding role as a key development partner to the Maldives, noting the bank’s continued support for the country’s development priorities over the years.

Maldives, ADB Sign USD 50 Million Energy Security Emergency Assistance Agreements

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