The Maldives has secured a KWD 3 million (approximately USD 9.7 million) loan from the Kuwait Fund for Arab Economic Development (KFAED) to establish a modern, fully equipped 50-bed hospital in Th. Veymandoo.
The Maldives has secured a KWD 3 million (approximately USD 9.7 million) loan from the Kuwait Fund for Arab Economic Development (KFAED) to establish a modern, fully equipped 50-bed hospital in Th. Veymandoo.
The loan agreement was signed by Finance Minister Hassan Zareer and KFAED Acting Director General Rashid Al-Bader at a ceremony held at the Ministry of Finance.
The proposed hospital is expected to strengthen access to quality healthcare services for communities across Thaa Atoll.
Minister Zareer expressed appreciation to the Kuwait Fund for its continued assistance towards the economic and social development of the Maldives.
The agreement marks the Kuwait Fund's 15th loan to the Maldives and its first investment in the country's healthcare sector.
Following the signing, the Fund also confirmed that it would increase the Maldives' annual country loan limit from USD 10 million to USD 40 million starting in 2027.
The decision follows discussions held on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual Meeting 2026.
The Kuwait Fund also expressed interest in supporting the proposed Thilafushi port development project.
In a post on X, Minister Zareer welcomed the increased loan limit and the Fund's interest in supporting the port project, describing the agreement as part of the longstanding partnership between the Maldives and Kuwait in advancing national development priorities.
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