Maldives and Kuwait Fund Sign $9.7 Million Loan for New Hospital in Th. Vaavu

The Government of Maldives and the Kuwait Fund for Arab Economic Development (KFAED) signed a loan agreement today for the development of the Th. Vaavu Atoll Hospital. Under this agreement, a loan of three million Kuwaiti Dinars (approximately 9.7 million US Dollars) has been arranged to construct a modern 50-bed hospital. Minister Hassan Zareer signed on behalf of the Government of Maldives, and Rashid Al Badar, Acting Director General of the Fund, signed for KFAED. Health Minister Geele Ali and senior officials from the Kuwait Fund participated in the ceremony. The Ministry of Finance stated that the loan is under the annual country limit of 10 million US Dollars set by the Kuwait Fund for the Maldives. The project aims to provide decentralized secondary-level health services in Th. Atoll, reducing travel and costs for residents and tourists. Minister Zareer said the agreement is a significant investment for the health and well-being of the Maldivian people. Al Badar noted this is the 15th loan from the Fund to the Maldives and the first investment in the health sector, with 14 loans totaling 185 million US Dollars disbursed since 1976. He also announced that, at Minister Zareer's request, the annual country limit will increase from 10 million to 40 million US Dollars starting in 2027.