Maldives and OPEC Fund Sign New Partnership Framework for Sustainable Development

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The Maldives and the OPEC Fund for International Development have formalised a new Country Partnership Framework to strengthen collaboration on national development priorities, with a focus on climate resilience, infrastructure development, and fiscal sustainability.

The agreement was signed in Vienna during the official visit of Minister of Finance and Planning Moosa Zameer, marking a renewed phase of engagement with the multilateral development institution. The framework outlines a structured approach for future financing and technical support aligned with the Maldives’ policy objectives.

Key areas of cooperation include renewable energy, transport connectivity, water and sanitation systems, and other critical public services, with a focus on balanced regional development, particularly in the outer atolls.

Minister Zameer highlighted that access to long-term and affordable financing is essential for Small Island Developing States facing climate and economic pressures, adding that sustained partnerships are vital for enhancing resilience, supporting local economies, and improving island-level service delivery.

The OPEC Fund has been a long-standing development partner of the Maldives, providing over US$440 million since 1977 through loans, grants, and trade finance for projects spanning transport, fisheries, health, education, and utilities. Discussions during the visit also covered macroeconomic conditions and climate-related financing needs, with both sides exploring opportunities to deepen cooperation.

The newly agreed framework will serve as a guiding reference for future collaboration, supporting the Maldives’ efforts to advance sustainable growth and long-term development objectives.