The Governments of Maldives and Japan Monday signed the Exchange of Notes for the facilitation of a COVID-19 Crisis Response Emergency Loan of 5 billion Japanese Yen (USD 47.5 million). The Exchange of Notes were signed at a ceremony held at the Foreign Ministry.

The Exchange of Notes was signed on behalf of the Maldives by Foreign Minister Abdulla Shahid and on behalf of Japan, Keiko Yanai, Ambassador of Japan to the Republic of Maldives.

Under the Exchange of Notes, which is a precursor to the signing of a formal Loan Agreement at the end of the month, a concessional loan of 5 Billion Yen (USD 47.5 million) will be extended to the Maldives. This would be the largest amount of concessional borrowing that Japan has extended to the Maldives in its long history of cooperation and partnership, and reflects the close bilateral relations both countries presently enjoy. The COVID-19 Crisis Response Emergency Support Loan will be utilized by the Government in supporting ongoing efforts to combat the pandemic in the country.

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