Asian Development Bank Member Fact Sheet: Maldives 2019 ; ADB Fact Sheets
In: http://hdl.handle.net/11540/11957
Comprising around 1,190 small islands in the Indian Ocean, Maldives was home to around 515,696 people in 2018 and is famous for some of the world's most beautiful beaches. The Asian Development Bank (ADB) has been supporting Maldives since 1978, with high-end tourism propelling the country's strong economic expansion over recent decades. This has helped Maldives gain upper middle-income status with the highest per capita income in South Asia. However, as a relatively small island economy, the country is extremely vulnerable to external economic shocks and the negative impacts of climate change. Since 1978, ADB has committed loans, grants, and technical assistance worth $326.90 million (excluding equity investment of $4.50 million) for Maldives. Cumulative loan and grant disbursements to Maldives amount to $196.9 million. These were financed by regular and concessional ordinary capital resources, the Asian Development Fund, and other special funds.