National Resilience and Recovery Plan: The Pathway To Recovery From Economic Downturn Following The Pandemic

On Wednesday, President Ibrahim Mohamed Solih held a virtual press conference to disclose the details of the National Resilience and Recovery Plan (NRRP); the pathway to recovery from the economic downturn following the COVID-10 pandemic.

He first went to state that in order to cater to the NRRP, the Government has been forced to revise the timeline for the developmental projects. With recovery efforts going at a good pace, positive growth for the economy by the end of the year is expected.

The President highlights this administration’s huge burden regarding shouldering the unpaid high-interest loans withdrawn by previous governments – hence they have formulated approaches for debt management which they will follow through in the repayment of the loans. Furthermore, the government also plans to seek out better repayment options and assistance from friendly nations regarding debt through its foreign policy.

Whilst the government has been successful in the implementation of sound economic and fiscal policies and regaining lost ground post the lockdown, he envisages additional progress and prosperity for the economy whereas overcoming the challenges faced at present in the coming year.

One of the biggest effort of the current government is to provide affordable education. Accordingly, the administration’s free degree scheme covers the cost for the local students undertaking their first Bachelor's degree, 10,000 students have enrolled up till the last week. The President notes that the benefits of the program will be evident within a couple of years when these students graduate and begin to work.

Addressing the administration’s pledge for the provision of essential services to all islands in the country, the President notes that projects for the establishment of water and sewerage networks in islands without access to the services will commence before this year ends. Accordingly, the projects are presently being prepared for tender and that the contract signings will proceed within the upcoming months.

Furthermore, he also shared key details of his administration’s housing policy and the administration’s decentralization efforts to expedite development in the atolls.

(President's Office)