Asian Development Bank's cumulative support to Maldives tops $600 million as capacity and business climate challenges persist

The Asian Development Bank (ADB) had committed a cumulative $606.5 million in public and private sector financing to the Maldives as of 31 December 2025, according to the bank's latest member fact sheet, updated in July 2026.

Of that total, $555.65 million came through public sector loans, grants, and technical assistance, spread across 121 projects since the Maldives joined the Manila-based lender in 1978. Private sector commitments added a further $50.83 million.

The bank's current public sector portfolio in the country stands at $253.3 million, covering five active loans and ten grants, the fact sheet states.

In 2025 alone, ADB approved $2.02 million in new technical assistance to the Maldives, including a project to help modernise the country's customs service. The fact sheet notes the country may also draw on several regional technical assistance initiatives approved the same year, covering audit institution strengthening, disaster and climate resilience, and trade facilitation under the South Asian Association for Regional Cooperation.

Energy, governance and infrastructure lead sector spending

By sector, energy has drawn the largest share of cumulative ADB commitments at $136.34 million across 20 projects, followed by public sector management at $130.64 million across 35 projects and water and other urban infrastructure at $124.64 million across nine projects. Transport, education, health, agriculture, and information and communication technology make up the remainder.

Recent projects cited in the fact sheet include flood and coastal protection works, support for local agri-food systems, upgrades to power grids to accommodate renewable energy and new solar tenders, construction of shelters for survivors of domestic abuse, vaccine cold storage investment, development of an electronic single window for exports, and waste collection and waste-to-energy initiatives.

Bank flags capacity and business environment as constraints

The fact sheet identifies a limited human resource pool as a constraint on the government's ability to design and implement complex projects, saying ADB has responded with technical assistance aimed at strengthening institutional capacity.

It also points to a weak business environment, small market size, and limited access to credit as factors holding back private sector investment, adding that ADB is addressing this through technical assistance and project financing.

Total outstanding balances and undisbursed commitments in ADB's private sector transactions in the Maldives stood at $23.32 million as of 31 December 2025, equivalent to 0.15% of the bank's global private sector portfolio. Cumulative public and private disbursements to the country total $392 million.

Research and workshops target economic diversification

Separately, ADB published a study in 2025 examining sociocultural barriers to workforce participation among women and disadvantaged groups, which the fact sheet says pointed to a need for stronger social protection, childcare provision, inclusive urban planning, and financing access for women-owned businesses. A second study used machine learning to generate localized poverty indicators intended to help address spatial inequality.

The bank also convened stakeholder workshops in 2025, including the Maldives Tuna Think Tank, which examined sustainability, efficiency and financing access in the tuna value chain, part of a wider push to diversify an economy still dominated by fisheries and tourism.

Governance and outlook

The Maldives holds 426 shares in ADB, equivalent to 0.004% of total shares and 0.293% of total voting power. Hassan Zareer serves as the country's ADB governor, and Zidna Ibrahim as Alternate Governor, according to the fact sheet.

ADB said its future engagement would be shaped by the Maldives' forthcoming long-term national development plan, which is expected to set development targets through 2040, as well as a new country partnership strategy currently under discussion with the government. The bank's existing 2020-2024 country partnership strategy has focused on public sector efficiency, fiscal sustainability, economic diversification, and environmental sustainability.

This report is based on ADB's Maldives Member Fact Sheet, published July 2026.