The Maldives has entered into a new Country Partnership Framework with the OPEC Fund for International Development, formalising plans to deepen cooperation on national development priorities, with a particular focus on climate resilience, infrastructure development, and fiscal sustainability.
The framework was signed in Vienna during an official visit by Minister of Finance and Planning Moosa Zameer, marking a renewed phase of engagement between the Maldives and the multilateral development institution. According to the Ministry of Finance and Planning, the agreement establishes a structured roadmap for future financing and technical assistance aligned with the country’s long-term policy goals.
Under the framework, priority will be given to public infrastructure investment, especially in the outer atolls, as part of efforts to promote more balanced regional development. Key areas identified for cooperation include renewable energy projects, transport connectivity, water and sanitation systems, and other essential public services that support island communities.
Speaking during the signing, Minister Zameer emphasised that access to long-term and affordable financing remains crucial for Small Island Developing States, particularly as they face growing climate-related risks and economic pressures. He noted that sustained partnerships with international development institutions are vital for strengthening resilience, supporting local economies, and improving service delivery across dispersed island populations.
The OPEC Fund has been a long-standing development partner of the Maldives, having supported the country across multiple sectors for several decades. Since 1977, the Fund has extended more than USD 440 million to the Maldives through a combination of loans, grants, and trade finance, backing projects in transport, fisheries, health, education, and utility services.
Discussions held alongside the signing of the framework also touched on the Maldives’ macroeconomic outlook and climate financing needs, with both sides exploring opportunities to further expand cooperation. The OPEC Fund reiterated its commitment to supporting Small Island Developing States, including through targeted initiatives focused on climate adaptation and resilience.
The Ministry said the newly agreed framework will serve as a guiding reference for future collaboration, supporting the Maldives’ efforts to advance sustainable growth, strengthen climate resilience, and address long-term development challenges.
