The Maldives and the OPEC Fund for International Development have signed a new Country Partnership Framework to deepen cooperation and align future financing with the country’s national development priorities, with a strong emphasis on climate resilience, infrastructure development and fiscal sustainability.
The agreement was formalised in Vienna during an official visit by Minister of Finance and Planning Moosa Zameer, marking a renewed and structured phase of engagement between the Maldives and the multilateral development institution.
According to the Ministry of Finance and Planning, the framework prioritises investment in public infrastructure across the islands, particularly in the outer atolls, to promote balanced regional development. Key areas identified for cooperation include renewable energy, transport connectivity, water and sanitation systems, and other essential public services.
Minister Zameer highlighted that access to long-term and affordable financing remains critical for Small Island Developing States facing mounting climate and economic pressures. He stressed that sustained partnerships play a vital role in building resilience, supporting local economies and improving service delivery at the island level.
The OPEC Fund has been a longstanding development partner of the Maldives since 1977, having provided more than US$440 million in loans, grants and trade finance facilities over the decades. These funds have supported projects in transport, fisheries, health, education and utilities.
Discussions during the visit also addressed macroeconomic conditions and the Maldives’ climate-related financing needs, with both sides exploring opportunities to expand cooperation further. The OPEC Fund reaffirmed its commitment to supporting Small Island Developing States through dedicated initiatives focused on climate adaptation and resilience.
The Ministry stated that the newly agreed framework will serve as a guiding reference for future collaboration, helping the Maldives advance sustainable growth and effectively address long-term development challenges.