Minister of Finance and Treasury Abdullah Jihad had met with his Saudi Arabian counterpart Ibrahim bin Abdul Aziz Al-Asaaf on the 17th of this month, during his trip to the nation. During his visit, Minister Jihad also met with the Deputy Director General of the Saudi Fund for Development Fauzi Alian and Advisor Abdullah Al Sidqee.
Finance Minister said that during the meeting with the Saudi Foreign Minister, funds for the development of Ibrahim Nasir International Airport (INIA) had been pledged by the Saudis. The Ministry also said that the Minister had pitched the newly created Islamic Finance Center and requested for technical assistance to the initiative.
The statement released by Finance Ministry added that the Saudi Fund had pledged to expedite the signing of the pledge loan agreement for the airport development, adding that the pledged amount is US$ 100 million.
The Arab nations who had pledged to grant the loan, or the Joint Coordination Group, is to meet in May in the Maldives. The group will meet to agree on the technical and financing plan of the terminal building of the initiative.
Finance Ministry added that the Saudi Fund had also pledged US$ 80 million for the Youth City development project as well as investing in other projects.
The Maldivian delegation had paid a visit to the Maldivian embassy in Saudi Arabia. Finance Minister Abdullah Jihad is accompanied by State Minister Ahmed Munawwar, Director Asma Moosa, and Ambassador to UAE, Saudi Arabia and Kuwait Abdullah Hameed.