Maldives, OPEC Fund Deepen Development Ties with New Strategic Partnership Framework

In a major step towards bolstering the Maldives' sustainable development, the Maldives government and the OPEC Fund for International Development (OFID) have formalised a new Country Partnership Framework (CPF), signed today at the OPEC Fund headquarters in Vienna.

The agreement, inked during an official visit by Minister of Finance and Planning, Moosa Zameer, establishes a strategic roadmap for enhanced bilateral cooperation focused on critical national priorities.

The new framework is designed to strategically align the OPEC Fund’s financial resources and technical expertise with the Maldives' long-term development agenda. Core areas of collaboration will include bolstering climate resilience, accelerating the transition to renewable energy, ensuring fiscal stability, and most notably, expanding sustainable public infrastructure across the nation's outer islands to promote balanced regional development and foster inclusive economic growth.

Minister Zameer hailed the agreement as a pivotal step in fortifying the nation’s partnership with the OPEC Fund.

“This new Country Partnership Framework reflects our shared commitment to advancing climate resilience, sustainable infrastructure and long-term fiscal stability in the Maldives,” he said.

“It also supports our national efforts to expand public infrastructure in the islands, which is critical for improving connectivity, service delivery and economic opportunities at the community level.”

Emphasising the profound impact of targeted investment, the Minister noted that upgrading island-based infrastructure such as ports, transport networks, and water and sanitation systems would directly enhance livelihoods and stimulate local economies.

“As a Small Island Developing State, we face increasing climate and external pressures. Partnerships such as this are essential to mobilise long-term, affordable financing for high-impact projects,” Zameer added.

The Minister also expressed profound gratitude for the OPEC Fund’s enduring support, which spans over four decades. Since the partnership began in 1977, the OPEC Fund has delivered more than USD 440 million in development financing across vital sectors including transport, water and sanitation, fisheries, health, and education.

“We value this enduring partnership and look forward to expanding our cooperation,” Zameer said.

During the visit, discussions extended to macroeconomic developments and the Maldives' pressing climate financing needs. The OPEC Fund reiterated its dedicated support for Small Island Developing States through its specialised SIDS Initiative and the Green-Blue Connect programme, which promotes integrated solutions for climate adaptation and resilience.

The Ministry of Finance and Planning confirmed that this new strategic framework will serve as the cornerstone for future collaboration, guiding joint efforts to build a more resilient, inclusive, and sustainable Maldivian economy in the face of evolving global and environmental challenges.