By Ameera Osmanagic/The Edition
Maldives has budgeted an estimate of MVR 1.6 billion in foreign aid from India for the year 2025.
The country has allocated MVR 2.5 billion of its budget for the upcoming year as foreign aid, out of which MVR 2.3 is expected to be received from ally countries.
Apart from India, China is the second largest foreign aid donor to the Maldives. It is estimated that Maldives would receive MVR 502 million from China next year, while Japan is third on the list with 47 million. Pakistan, Italy, Saudi Arabia and Netherlands are also on the list of potential donors for 2025.
The budget also includes an estimate of MVR 336 million to be received from financial institutions as free aid.
Additionally, Maldives plans to take out MVR 16.8 billion in loans out of which MVR 6.6 will be from business banks.
The government proposed its estimated MVR 56.6 billion budget for the upcoming year, to the Parliament, for approval.
