Maldives Competitiveness and Growth Project

The development objective of the Competitiveness and Growth Project for Maldives is to strengthen private participation in and financial sustainability of state-owned enterprises (SOE), and the support mechanisms for the competitiveness of small and medium enterprises. The project comprises of three components. The first component, accelerating SOE reforms consist of following sub-components: (i) increasing private participation in ownership of select SOEs; (ii) improving governance of SOEs at the program and corporate level; and (iii) reforming SOE public service obligations. The second component, fostering small and medium enterprises (SME) competitiveness will enhance the competitiveness of Maldivian SMEs. It consists of following sub-components: (i) digital financial infrastructure; and (ii) SME growth acceleration program. The third component, project management will be established in the Ministry of Finance (MoF). The Project Management Unit (PMU) will be responsible for carrying out project activities and conducting monitoring and evaluation.