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PRESS RELEASE January 17, 2019

Maldives: World Bank Vice President and Delegation on a Familiarization Visit

MALE, January 17, 2019— World Bank Vice President for the South Asia Region, Hartwig Schafer arrived today for his first four-day visit to the Maldives. Joining Mr. Schafer will be Nena Stoiljkovic, the International Finance Corporation Vice President for Asia and the Pacific.  Schafer and Stoiljkovic will be meeting the President to seek his perspectives on the country’s development priorities and convey the World Bank Group’s compliments to the new government.

“Maldives is a remarkable development success that should inspire other developing nations. The country rose from a low-income to a middle-income status, having increased its Gross Domestic Product per capita from $268 in 1980 to more than $11,000 in 2017,” said Schafer. “I am very happy that my visit coincides with the 40-year anniversary of our partnership with the Maldives and I take this opportunity to reaffirm the Bank’s commitment to our continued collaboration.”

During the visit, the Vice President is scheduled to meet communities, private sector and civil society representatives to get their feedback on the Bank’s work in the Maldives and observe the outcomes and progress of the World Bank supported projects. 

The delegation will also meet senior government officials including Minister of Finance, Hon. Ibrahim Ameer, Minister of Environment, Hon. Hussain Rasheed and the Governor of the Maldives Monetary Authority, Ahmed Naseer.

Before joining the South Asia Region in July 2018, Schafer served as the World Bank Vice President for Global Themes and Vice President for Operations Policy and Country Services. He led several key reforms, including the rollout of the World Bank’s new policies on procurement, environmental and social safeguards, and improvement of the Bank’s lending and knowledge instruments. Previously, Schafer served as the World Bank’s Country Director for Djibouti, Egypt, and Yemen.

Background: Maldives became a member of the World Bank in 1978 and has enjoyed a trusted partnership with the institution for the past 40 years. The country has implemented 29 projects across many development areas with more than $255 million in World Bank support.


Last Updated: Jan 17, 2019


Elena Karaban
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Dilinika Peiris
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