KFAED grants 3 million dinar loan for hospital expansion in Maldives

• The Small Islands Hospitals Project aims to enhance healthcare and reduce transportation costs in the Maldives.

• The project includes equipment, medical devices, furniture, and engineering services for design, documentation, and supervision.

On Monday, the Republic of Maldives and the Kuwait Fund for Arab Economic Development (KFAED) signed a loan agreement. The fund will provide a loan of three million dinars, equivalent to $9.7 million, to help finance the Small Islands Hospitals Project, according to Al Anba newspaper.

The loan agreement was signed on behalf of the Government of the Maldives by Mohamed Shafiq, Minister of Finance, and on behalf of the fund by Waleed Shamlan Al-Bahar, Acting Director General.

The project aims to support economic and social development in the Maldives by providing essential health services, improving healthcare standards, and reducing the cost of transportation from small islands and resorts to larger cities or the capital. The government considers this project a high priority among its various initiatives.

The project is expected to contribute to achieving the Sustainable Development Goals, including Goal 1 ‘Eradicating Poverty’, Goal 3 ‘Good Health and Well-being’, Goal 5 ‘Gender Equality’, Goal 10 ‘Reducing Inequalities’, and Goal 17 ‘Partnerships for the Goals’.

The project primarily involves civil and electromechanical works to build and equip seven small hospitals on seven islands located in the north and south of the country. These hospitals will be situated on the islands of Hanimaadhoo, Silandu, Velindo, Maamgeli, Velidu, Veluvichi, and Thulusdhoo.

The project also includes the necessary services and facilities, such as equipment, medical devices, medical furniture, and engineering services for preparing designs, tender documents, and supervising implementation. It is expected to be completed by June 30, 2027.