Featured
World Bank pledges $12.8 mln to help virus-hit Maldives workers
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
Baros Maldives will welcome guests for its festive season from 22 December 2026 to 7 January 2027, with a programme centred on the island’s natural surroundings, Maldivian heritage and a series of culinary, marine and cultural experiences.
The programme will combine Christmas and New Year traditions with activities inspired by island life, including ocean excursions, local cultural experiences, festive dining and wellbeing sessions.
The season will begin with a Christmas Tree Lighting ceremony, followed by a series of activities introducing guests to festive traditions and Maldivian culture. These will include a Christmas cookie workshop, an Ocean, Coconut & Spice cooking class, a Maldivian Heritage Evening and an Island Christmas Market.
Marine experiences will remain a central part of the festive programme. Guests will be able to join a Sunrise Nooma sailing experience, take part in fishing trips at sunrise or twilight, explore the house reef with the resort’s marine team or join a dolphin-watching cruise.
Private yacht excursions, visits to local islands and trips to Malé will also be available for guests wishing to explore beyond the resort.
Baros Maldives will also offer a series of culinary experiences throughout the festive period. These will include a Sake Pairing Dinner, a Great Gatsby-themed five-course dinner and a Champagne Dinner inspired by the Seven Seas.
Other dining experiences will include a Butcher’s Block buffet, an Omakase tasting lunch and a Master Chef Tuna Carving Show & Tasting. Guests will also be able to take part in wine discovery experiences, cocktail-making sessions and an Island Crafted Cocktails programme.
On Christmas Eve, guests will gather at The Lighthouse for a cocktail reception before continuing to Lime for the Christmas Eve Gala Dinner.
Christmas Day will feature breakfast, festive activities and time for guests to enjoy the beach, lagoon and other island experiences with family and friends.
New Year’s Eve celebrations will begin with a cocktail reception, followed by a Gala Dinner, live entertainment and the countdown to 2027.
New Year’s Day will start with a celebratory brunch, followed by a selection of wellbeing and dining experiences. These will include a beachfront degustation dinner accompanied by live violin and saxophone performances.
Younger guests will also have a dedicated programme of festive activities, including mocktail-making, Christmas cookie workshops and island-based activities designed for families and children.
Throughout the season, Baros Maldives will host live music, marine presentations, yoga and meditation sessions alongside its wider programme of dining, recreation and ocean experiences.
The festive programme is intended to reflect the character of Baros Maldives by combining Christmas and New Year celebrations with the island’s marine environment, culinary offering and Maldivian culture.
From 21 December 2026 to 1 January 2027, Niva Kuramathi will mark the festive season with “A Tropical Festive Season”, a programme of dining, entertainment, outdoor activities and family experiences shaped around the island setting.
The programme will make use of Kuramathi’s natural surroundings, including its house reef and sandbank, alongside its 12 restaurants and seven bars.
The festivities will begin on the evening of 21 December with a Christmas Tree Lighting ceremony on the sandbank. Guests will be welcomed with drinks and live music at sunset, followed later in the evening by a traditional Bodu Beru performance.
On 28 and 29 December, the resort will host a traditional Maldivian Market, featuring Bodu Beru drumming, a folklore parade and locally made artisanal crafts.
Christmas Eve festivities
Christmas Eve celebrations will begin on the sandbank at sunset, with welcome drinks and Christmas carols. Santa Claus and his elves will also make an appearance before guests gather for a gala buffet dinner.
The evening will conclude with an outdoor screening of a classic Christmas film under the stars.
Countdown to 2027
New Year’s Eve celebrations will begin at sunset with cocktails on the sandbank.
A gala dinner will then be served across Farivalhu, Malaafaiy and Haruge restaurants before the countdown to 2027. Fireworks will mark the arrival of the New Year, while live music and DJ performances will continue at Fung Bar and Sand Bar.
Festive activities
Throughout the festive period, Niva Kuramathi will offer a programme of recreational, culinary and entertainment activities.
Guests will be able to take part in moonlit yoga sessions on the sandbank, sand sculpting, Sip & Paint evenings for couples and fire dance performances.
Sporting activities will include beach volleyball, a football match between the Niva Kuramathi team and guests, as well as kayak, pedal boat and stand-up paddleboard races.
The entertainment programme will also include wine tastings, karaoke, music trivia, live music and DJ evenings.
Cooking classes will be held at Kobe, where guests will be able to take part in sessions centred around the restaurant’s open kitchen experience.
The festive programme is designed to allow guests to participate in scheduled activities while also having the option to spend time at leisure.
The season will conclude on 1 January 2027 with a late-morning brunch and the first house reef dive of the year.
Festive programme for children
Bageecha Kids Club will host a separate festive programme for younger guests, combining recreation, creative activities and environmental learning.
Activities will include treasure hunts, splash pad games, cookie-making, arts and crafts, eco workshops, nature exploration, holiday films, karaoke, bracelet-making and gardening in the resort’s hydroponic garden.
Children will also be able to take part in scavenger hunts, mini-Olympic games, yoga and disco dancing, as well as shared lunches and dinners with other young guests.
On Christmas Eve, the programme will begin with a family photograph session, followed by gingerbread house decorating, writing letters to Santa, a palm-leaf handicraft workshop and outdoor games.
Christmas morning will feature a pyjama party with musical games and pool activities. Later in the day, families will gather at Athiri Deck to welcome Santa Claus, who will distribute gifts to children.
New Year’s Eve activities for younger guests will take place during the afternoon, with music and games around the pool followed by a children’s disco as part of the resort’s final celebrations of 2026.
Nova Maldives will renew its partnership with PADI this September to co-host Project AWARE Week from 16 to 20 September 2026.
Organised by the resort’s marine team, the programme will give guests, from first-time snorkellers to experienced divers, opportunities to combine marine wildlife observation with practical conservation activities. The initiative is intended to turn time spent in the ocean into an educational experience while encouraging greater awareness of marine conservation.
This year’s AWARE Week coincides with PADI’s 60th anniversary and Nova Maldives’ fourth year of operation in South Ari Atoll. Now in its eighth global edition, PADI AWARE Week has developed into a citizen science movement within the diving community and has helped rescue more than 41,000 entangled marine animals to date.
Through its continued participation, Nova Maldives aims to encourage guests to become ocean advocates and remain engaged with marine conservation beyond their stay.
Guests staying at Nova during AWARE Week will be able to participate in a programme designed for different levels of ocean experience. Activities will include:
- Ocean immersion and storytelling: Sessions inspired by Blue Planet and other ocean documentaries, highlighting the diversity and vulnerability of marine life.
- Dive Against Debris: Underwater clean-up dives in the resort’s lagoon, during which participants will remove plastic and other waste before recording the findings in PADI AWARE’s global database.
- Whale shark snorkelling: Guided encounters that will allow guests to swim alongside whale sharks in the open waters of South Ari Atoll.
- Manta ray and turtle-spotting excursions: Guided boat trips to feeding and nesting areas where manta rays and turtles can be observed in their natural habitats.
- Coral restoration workshops: Practical sessions introducing guests to coral planting and the resort’s ongoing reef regeneration work.
“Some of the most meaningful work happens when you show up year after year. Four years into Nova’s story, we’ve learned that the health of the reef tells us a great deal about the impact we’re making, and that the guests who choose to return aren’t just here for the view,” said Abdulla Aboobakuru, General Manager of Nova Maldives.
“They’re here because Nova reflects something they already care about, including care for the ocean, a sense of community and a more thoughtful way of experiencing the places we visit. That’s what we hope Nova can inspire in new and returning guests alike: less a destination, more a calling.”
The resort’s marine conservation work continues throughout the year. Its coral nursery contains a growing collection of metal frames holding individually secured coral fragments, which are later transplanted onto the house reef. Guests are regularly invited to participate in the planting process, while the marine team monitors the young coral colonies as they develop.
Nova Maldives also maintains partnerships with the Maldives Whale Shark Research Programme and Manta Trust. The resort is accredited as a Responsible Manta Tourism Operator, with the partnerships supporting its year-round approach to marine conservation.
-
News1 week agoMadifushi Private Island celebrates Maldivian heritage on World Coconut Day
-
Meditation1 week agoCOMO Resorts Maldives brings marine experts, artists and wellness specialists to its islands
-
Awards1 week agoSun Siyam Vilu Reef secures Best House Reef title at TTM Awards
-
News1 week agoHuvafen Fushi expands wellness offering with Aromatherapy Associates treatments
-
Action1 week agoKandima Maldives lines up sports residencies and family festivities for October
-
Entertainment1 week agoSilent DJ brings music and movement to Madifushi Private Island
-
Action1 week agoNova Maldives to host PADI AWARE Week this September
-
News1 week agoCulinary encounters and island experiences shape festivities at The Nautilus Maldives