Gov’t Signs MVR 150 Million Loan Agreement with KFAED for Hospital Construction

The Maldivian government and the Kuwait Fund for Arab Economic Development (KFAED) have signed a loan agreement valued at KWD 3 million (USD 9.7 million or MVR 150 million) to construct hospitals on Maldivian islands.

The agreement for the ‘Small Islands Hospital Project’ was formalised by Finance Minister Dr. Mohamed Shafeeq and Acting Director General of KFAED Waleed al-Bahar during a ceremony at the Finance Ministry headquarters in Male’ on Monday.

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According to the Finance Ministry, the project aims to enhance the provision of essential health services and improve efficiency in the small islands located in the north and south of the country. The initiative also seeks to reduce the transportation costs incurred by residents of small islands when accessing medical healthcare services, decentralise healthcare, and provide timely secondary medical care.

The project encompasses a wide range of activities, including civil and electro-technical works of the hospital buildings, provision of medical equipment and furniture, engineering services for preparing designs and tender documents, supervision of construction, and the establishment of a project implementation unit.

The signing ceremony was attended by Health Minister Dr. Abdulla Khaleel, along with senior officials from the Health Ministry, Finance Ministry, and the Kuwaiti embassy in Colombo.