HomeDiplomatic NewsINGOsWorld Bank Income support project in Maldives

World Bank Income support project in Maldives

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Maldives: 2nd July 2021 (TDI):  The World Bank has helped to provide $19 million income support to 18,000 workers who lost their jobs due to the covid-19, most importantly women and self-employed people who work in informal sectors.

The COVID-19 Emergency income support project has helped the government of Maldives in protecting the livelihood of vulnerable workers, especially women and self-employed individuals. Through actions such as awareness initiatives, support services, and flexible requirements, women and self-employed individuals who don’t have formal contracts are looked after. The project is also set to finance social safety nets as they are well equipped to protect the Maldives against future shocks. A new unemployment insurance program is being set up to help soften the blow on both employers and employees in future emergencies. The existing retirement pension scheme program is being reviewed to help future generations of the Maldives which includes women.

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