President appoints the Minister of Finance and Treasury as the Representative of the government to sign two loan agreements with the ADB

President Mohamed Nasheed has appointed Minister of Finance and Treasury Mr Ali Hashim as the Representative of the government, with Full Power and Authority to sign and execute two loan agreements with Asian Development Bank (ADB), on behalf of the government of the Maldives.

The ADB and the government have negotiated two technical assistance loan agreements to help the Maldives’ economic recovery programme. The two loan agreements are:
- Special Drawing Rights 21,912,000 (equivalent to 35 Million US Dollars) to finance capacity development for economic recovery programme;
- Special Drawing Rights 939,000 (equivalent to 1.5 Million US Dollar) to finance the economic recovery programme.

In addition to the two technical assistance loans, the ADB will also provide a grant aid of 3 million US Dollars.