01 June 2010, Colombo; The Government of Japan provided 300 million Japanese Yen under its Non-Project Grant Aid scheme (NPGA) for 2010to the Republic of Maldives for importing petroleum products.

The Exchange of Notes for the NPGA was signed today at the Embassy of Japan in Colombo, Sri Lanka. On behalf of the Government of the Maldives the Exchange of Notes was signed by the High Commissioner of the Maldives to Sri Lanka, H. E. Mr. Ali Hussain Didi and on behalf of the Government of Japan by the Ambassador of Japan to the Maldives, H.E. Mr.Kunio Takahashi.

Japan’s Non-Project Grant Aid is intended to promote economic structural adjustment efforts through the provision of foreign currency for import of goods. The price of goods procured under the grant in local currency is to be deposited in the Counterpart Fund for use in social and economic development purposes. In this regard, the Grant will not only petroleum products but also enable the government of Maldives to utilize the currency deposited in the Counterpart Fund for development projects that will collectively benefit the wider community, of which is to be finalized yet.

ENDS