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World Bank pledges $12.8 mln to help virus-hit Maldives workers

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World Bank is providing $12.8 million to the Maldives to finance an emergency scheme that allows workers facing job and income losses due to the coronavirus pandemic to get a monthly allowance.

The Covid-19 Emergency Income Support Project, approved by the Washington-based global financial institution’s board on Tuesday, will largely finance the government scheme, which provides temporary support of up to MVR 5,000 ($322) per month to workers who have lost their jobs or income as a result of the coronavirus pandemic.

“The drastic fall in tourism revenues and the constraints necessitated by the Covid-19 containment efforts have dealt a severe blow to low-income households who have lost their jobs or their source of income,” Idah Z. Pswarayi-Riddihough, World Bank Country Director for Maldives, Nepal, and Sri Lanka, was quoted in a statement, as saying.

“This project will support the government’s efforts to deliver cash transfers and food benefits directly to those who need them the most. The project will also strengthen the country’s social welfare system to improve its preparedness for future crises.”

The project will also strengthen the government’s capacity to distribute allowances and other cash transfers. It will enhance administrative systems to give a greater role to local councils in helping people across the archipelago access support.

A new unemployment insurance programme, along with a far-reaching national social protection framework, will also be formulated and launched to help soften the blow on both employers and employees in future emergencies.

The existing retirement pension scheme and other similar programmes will be reviewed to make them more sustainable.

“The current crisis shows the importance of having a safety net for all Maldivians, to prevent people from falling into poverty when times get tough,” Thomas Walker, Senior Economist and Task Team Leader, said.

“This project will help build fiscally sustainable social protection programs that can reach any Maldivian who needs help.”

The total project cost is $12.8 million, including a $6.4 million grant and a $6.4 million credit from the International Development Association (IDA), the World Bank’s concessional credit window for developing countries.

The World Bank had in April approved a fast track package of $7.3 million to help the Maldives prevent, detect, and respond to the pandemic and strengthen its public health preparedness.

Another $10 million in contingency financing was also provided to support the government’s efforts to mitigate the economic and financial impact of the pandemic.

Some 22,000 Maldivians employed in the Indian Ocean tourist paradise’s resorts have lost their jobs or faced income losses due to the coronavirus pandemic, according to a recent UNDP study.

UNDP said the number would increase to 45,000 plus with the inclusion of foreign employees.

Workers in other sectors such as construction are also impacted.

An MVR 2.5 billion stimulus plan, announced in March, includes MVR 1.55 billion ($100 million) in emergency loans for businesses to meet short-term working capital needs.

Under the government’s stimulus plan, emergency loans for businesses with an annual turnover of less than MVR 10 million ($649,000) and self-employed individuals are arranged through the SME Development Finance Corporation (SDFC), a state-owned financial institution exclusive for small and medium enterprises.

Emergency loans for resorts as well as local businesses with a turnover of over MVR 10 million are arranged through Bank of Maldives (BML).

Both SDFC and BML are accepting applications for the emergency finance.

The unsecured loans by BML and SDFC come with a six-month grace period and a repayment period of three years. Interest is charged at six per cent per annum, but no interest is charged during the grace period.

The government initially mandated all businesses that avail the emergency finance to retain their local workforce and pay salaries.

However, the government has since relaxed the eligibility criteria to give “a second chance” to businesses that failed to secure the finance in the first round of applications.

Under the relaxed rules, businesses that agree to rehire axed local employees and give a monthly salary of at least MVR 5,000 ($322) will qualify for the emergency loan scheme. Those that pledge to ensure employee pay will not fall below MVR 5,000 can also apply. =

In addition to the emergency finance, the government’s stimulus plan is complemented by a package of financial measures, including a six-month moratorium on principal and interest repayments for personal, business and housing loans sanctioned by commercial banks.

The government is also subsidising utility bills.

Those that lose jobs due to the coronavirus pandemic will also be paid unemployment benefit for a period of three months.

Meanwhile, the central bank has announced a $150 million facility for banks to ensure healthy foreign currency reserves.

The facility is arranged through a $400 million stand-by currency swap signed by the Maldives Monetary Authority (MMA) and Reserve Bank of India (RBI) last year, he said.

If required, minimum reserve requirement of banks will also be slashed from 10 to five per cent to allow banks to increase lending.

The coronavirus outbreak has hit the Maldivian economy hard, as travel restrictions and other preventive measures affect the country’s lucrative tourism industry, which contributes the bulk of the island nation’s state revenue and foreign reserves.

All international airlines have suspended scheduled operations to the Maldives, as the island nation enforced a blanket suspension of on-arrival visa in late March in a bid to combat the spread of the novel coronavirus.

With arrival numbers falling and the visa suspension in effect, several resorts across the Maldives had been closed.

Before the pandemic, the government had been bullish about tourism prospects, targeting two million, high-spending holidaymakers this year after last year’s record 1.7 million.

However, tourist arrivals saw a year-over-year decline of 22.8 per cent in the first 10 days of March. Officials say the number of tourist arrivals to the Maldives could drop by half in 2020.

Tourism has been the bedrock of the Maldives’ economic success. The $5 billion-dollar economy grew by 6.7 per cent in 2018 with tourism generating 60 per cent of foreign income.

However, the government is at present projecting a possible 13 per cent economic contraction this year — an estimated $778 million hit.

The Maldives is preparing to reopen its borders to visitors in July.

On March 8, Maldives reported its first cases of the novel coronavirus, as two hotel employees tested positive for Covid-19 at a luxury resort in the archipelago.

Eighteen more cases — all foreigners working or staying resorts and liveaboard vessels except five Maldivians who had returned from abroad — were later identified.

A six-case cluster of locals, detected in capital Male on April 15, confirmed community transmission of the coronavirus. Several more clusters have since been identified, bringing the total number of confirmed case in the Maldives to 1,942.

Eight deaths have been reported and 1,010 have made full recoveries.

The Maldives announced a state of public health emergency on March 12, the first such declaration under a recent public health protection law.

The public health emergency declaration has allowed the government to introduce a series of unprecedented restrictive and social distancing measures, including stay-at-home orders in capital Male and its suburbs, a ban on inter-island transport and public gatherings across the country, and a nationwide closing of government offices, schools, colleges and universities.

Non-essential services and public places in the capital such as gyms, cinemas and parks have also been shut.

Restaurants and cafes in the capital have been asked to stop dine-in service and switch to takeaway and delivery.

A nationwide shutdown of all guesthouses, city hotels and spa facilities located on inhabited islands is also in effect.

Photo: TTG Asia

Awards

The Nautilus Maldives honoured in 2025 Condé Nast Traveler Awards

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In an increasingly fast-paced world, The Nautilus Maldives stands as a sanctuary where time slows and moments linger — a place that continues to capture the attention of discerning travellers. This haven of unhurried living has once again been recognised in the 2025 Condé Nast Traveler Readers’ Choice Awards, as voted by readers in both the United Kingdom and the United States.

The accolade reaffirms the island’s quiet ability to enchant. With just 26 exclusive ocean and beach houses, The Nautilus offers complete privacy and a philosophy built entirely around individual freedom. Dining is available whenever a guest desires, and experiences unfold as inspiration strikes. A secluded sandbank transforms into a private dining room, and the Maldivian night sky becomes a stage for endless wonder.

“To be recognised again by Condé Nast Traveler’s readers is deeply meaningful,” said Adan Gomez, General Manager of The Nautilus Maldives. “Our guests come seeking beauty, but what they discover and cherish is freedom — the freedom to design their own rhythm and to create moments that are theirs alone.”

At The Nautilus, luxury is defined as liberation. Guests may drift through the UNESCO-protected waters of Baa Atoll, indulge in a Solasta Spa ritual without time limits, or share vintage champagne beneath a canopy of stars. Each stay unfolds as a personal narrative — unscripted, unhurried, and unforgettable.

Now in its thirty-eighth year, the Condé Nast Traveler Readers’ Choice Awards remain among the most respected distinctions in global travel. The results, drawn exclusively from readers’ experiences and opinions, continue to represent one of the industry’s most prestigious marks of excellence.

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Entertainment

Amilla Maldives embarks on ‘Around the World in Wonder’ festive journey

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Amilla Maldives will host a festive season celebration titled ‘Around the World in Wonder’ from 20 December 2025 to 6 January 2026, inviting guests to experience a colourful exploration of global culture, curiosity, and joy.

Drawing inspiration from Jules Verne’s Around the World in 80 Days, the celebration takes guests on a journey across continents, with each day dedicated to a different country and its unique flavours, music, and traditions. The journey begins and concludes in the United Kingdom, tracing a route through the Maldives, Spain, Italy, France, Argentina, Japan, China, India, Egypt, Brazil, the United States, and Singapore, culminating in a grand finale on New Year’s Eve.

Amilla’s 11th anniversary on 21 December will feature island-wide festivities, including guided tours, tree planting, coconut painting, Maldivian cooking demonstrations, and a cocktail and cake-cutting ceremony. On 23 December, the Tree Lighting Ceremony will adopt an Italian flair with a Venetian-themed celebration, complete with mask-making workshops, Viennese waltz, wine tasting, the Venetian Masquerade Ball, and a special ‘Treasure of the Sea’ dinner.

France will take centre stage on 24 December, featuring the Dance of the Can Can, gingerbread house making, mime face painting, a Christmas Eve buffet, and an aerial hoop performance. The following day, 25 December, will celebrate Argentina with the arrival of Santa Claus, a festive brunch infused with tango rhythms, dance workshops, magic shows, and a lively tango dinner performance.

The festivities will reach their climax on 31 December, with the Around the World in a Cocktail party leading into the spectacular Global Carnival Event. The evening will feature live performances by the Hamilton Band, complemented by bongo drummers, saxophonists, acrobats, and fire dancers. The grand countdown and after party will usher in 2026 with music, energy, and celebration.

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Awards

Lily Beach Resort & Spa wins Leading F&B Resort at South Asian Travel Awards 2025

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Lily Beach Resort & Spa has been recognised as the Leading F&B Resort at the South Asian Travel Awards 2025, held in Colombo. The accolade reinforces the resort’s position as a destination where culinary excellence is at the heart of every guest experience.

Central to the resort’s success is its renowned Platinum All-Inclusive Plan, a comprehensive concept that offers guests access to a range of premium experiences. The plan includes à la carte dining across several speciality restaurants, unlimited premium wines and spirits, French Champagne such as Taittinger, themed buffets, private dining experiences, and selected excursions. Designed to elevate each stay, it allows guests to indulge fully without additional charges.

Lily Beach offers an array of distinctive restaurants and bars:

  • Lily Maa, the main restaurant, features extensive buffets and live cooking stations.
  • Tamarind presents refined Indian-Thai fusion cuisine in an elegant overwater setting.
  • AQVA serves light fare and cocktails in a relaxed beachfront atmosphere.
  • Teppanyaki delivers interactive Japanese dining, combining artistry and theatre.
  • Les Turquoise d’Aqua provides a fine dining experience under the stars.
  • The Spirit Bar, set beside the ocean, offers a tranquil space for sundowners and late-night drinks.
  • Vibes combines a family-friendly pool, games area, and evening entertainment.

The resort’s culinary achievements have earned it continued recognition. In 2024, Lily Beach received the Wine Spectator Award for its exceptional wine cellar and sommelier programme, further affirming its place among the world’s leading resort dining destinations.

General Manager Laurent Driole expressed pride in the achievement, noting: “This award is a tribute to the vision, dedication, and artistry of our F&B team. Every menu, drink, and moment is crafted to delight, and to offer our guests a culinary journey as exceptional as the Maldives itself.”

The award for Leading Food & Beverage Resort is seen as a reflection of the passion and commitment of Lily Beach’s entire culinary team. Under the leadership of Executive Chef Alessio Biondi and F&B Director Adam Shareef, dishes are prepared using the finest ingredients sourced globally, ensuring guests enjoy the highest standards of quality. Their commitment to creativity and innovation means that every visit offers something new—both for first-time guests and returning visitors.

Equally vital to this success are the service teams who bring warmth and personality to each dining experience. Their genuine care and hospitality create a relaxed, homely atmosphere that embodies the essence of Lily Beach—a place where guests feel welcomed as part of a community.

With this latest recognition, Lily Beach continues to define the all-inclusive luxury segment in the Maldives, combining world-class gastronomy, seamless inclusions, and authentic Maldivian hospitality to deliver experiences that remain both refined and heartfelt.

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