US hikes Maldives development funding by $8.5 million
The latest amendment brings total value US assistance to Maldives to $45.7 million.
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The Maldives and the United States on Monday signed the fourteenth amendment to the Development Objective Grant Agreement (DOAG), increasing the US aid to Maldives by $8.5 million.
The amendment was signed Monday at a ceremony held at the foreign ministry. Representing the Maldives, the amendment was signed by state foreign minister Sheryna Abdul Samad, and USAID Mission Director Gabriel Grau signed on behalf of the US.
The DOAG, a significant development cooperation agreement, aims to strengthen the Maldives' technical capacity in managing public finances and to enhance the resilience of the country's economic and democratic governance.
The agreement has seen incremental increases in funding over the years.
With this latest amendment, the US has committed an additional $8.5 million, bringing the total value of the agreement to $45.7 million.
