Page 31 - ICD AR21 EN

OUR OPERATIONS, ACTIVITIES AND PERFORMANCE: 2021 HIGHLIGHTS
THE HIGH DEVELOPMENT IMPACT OFTHE MALDIVES SUKUK
The Maldives Sukuk issuance has added to the approximately USD 1.4 billion (37% of estimated 2020 GDP) in external financing received from bilateral and multilateral partners during 2020. The issuance has enabled the alleviation of external liquidity pressures that have been exacerbated by the sharp reduction in tourism activity resulting from the coronavirus pandemic. It also allowed the Maldivian government to reduce its 2022 external debt repayments and extend the maturity of its external debt obligations. Furthermore, the Sukuk issuance is contributing to the sustainable development of a member country where 57% of the government expenditure for 2021 is directly linked to the SDGs.
The Maldives Sukuk
issuance allowed the Maldivian government to reduce its 2022 external debt repayments and extend the maturity of its external debt obligations.
SDGs Impacted
OTHER
57%
HEALTH
12%
SDG #1 SDG #3 SDG #4 SDG #8 SDG #10 SDG #11 SDG #13 SDG #16
No Poverty
Good Health and Well-being
Quality Education
Decent Work and Economic Growth Reduced Inequalities
Sustainable Cities and Communities Climate Action
Peace, Justice and Strong Institutions
DEFENSE
4%
GENERAL PUBLIC SERVICES 8%
EDUCATION
12%
DEBT SERVICES & AMORTISATION 11%
2021 GOVERNMENT EXPENDITURE
SDGs IMPACTED
ECONOMIC AFFAIRS
20%
SOCIAL PROTECTION 11%
PUBLIC ORDER AND SAFETY 8%
CULTURE, RECREATION & RELIGION 2%
ENVIRONMENTAL PROTECTION
5%
HOUSING & COMMUNITY AMENITIES
7%
USD 2.2BN
STRONGER TOGETHER 29