The Japanese government has donated MVR 42 million (about USD 2.7 million) in financial support to boost the Maldives’ agricultural output.
The agreement was signed in a special ceremony on Wednesday by UNDP Maldives, represented by Permanent Representative to the Maldives Enrico Gaveglia, and the Japanese government, represented by Ambassador of Japan to the Maldives Keiko Yanai.
With the donation from Japan, UNDP Maldives and the Maldives government will collaborate to provide opportunities for people working in agriculture. In addition, one of the project’s major aims is to increase food security by boosting the output of Maldivian agricultural produce.
Furthermore, the project will seek to strengthen ties between the agricultural sector and associated businesses, as well as to add value to the produce in order to aid in the growth of agricultural sector.
During the event, UNDP and the Maldives government also signed an agreement pertaining to the “Project for Developing Sustainable Agricultural Economy.”
Speaking on the project, Dr Hussain Rasheed Hassan, Minister of Fisheries, Marine Resources, and Agriculture, stated that Japan’s funding is a significant help in growing the Maldivian agriculture industry. He went on to say that it will also provide several benefits to Maldivians engaged in agriculture.
Furthermore, Economic Minister Fayyaz Ismail emphasised the importance of such projects in the development of a sustainable economy. He also stated that the project inked at the event will make a major contribution to the sustainable development of the agriculture sector.
The Japanese government has provided the Maldives with a variety of financial support, including a contribution of grant aids totalling USD 8.5 million during the COVID-19 pandemic.
In addition, Japan provided a USD 47.5 million emergency loan to help the country recover from the pandemic’s devastation.
The Japanese government also contributed 112,000 AstraZeneca vaccine doses through the COVAX facility to aid immunisation efforts in the Maldives.