The Maldivat islands, which suffer from financial hardship to build a 9 billion dollar Blwchin Center in an attempt to attract investors

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Dubai -based family office has announced plans to invest $ 8.8 billion to build the “Blockchain and digital assets” in the Maldives, which is a plan for the archipelago of the Indian Ocean, which suffers from financial distress through the debt crisis that is waving on the horizon.

The planned investment of the MBS Global Investments over five years will exceed the Maldives GDP is about $ 7 billion, but Musa Zamer, Minister of Finance, said that the country needs a “jump” to diversify away from tourism and fisheries.

“Something we see as a possible shareholder gets us out of some of the difficulties we face,” Zamir told the Financial Times in an interview with the video.

MBS, which says it runs the assets of about 14 billion dollars, is the family office of a wealthy cat, Sheikh Nayef bin Eid Al Thani. It plans to finance the investment of the Maldives by benefiting a network of family offices and high -value individuals for the formation of a consortium.

The CEO of MBS, Ndim Hussein, said that the gradual project can be funded through shares and debts and that the firm obligations “north” of $ 4 billion-5 billion dollars have already been secured.

Hussein said: “We were directly estimated at the displacement that was involved in the funding and we made the necessary alliances and brought the necessary partners to ensure that we got this.” “It is a large amount of money.”

MBS and the Maldives government signed a joint project agreement on Sunday.

According to Project MasterPlan, the Maldives International Financial Center will be 830,000 square meters capable of hosting 6500 people and providing job opportunities for 16,000 in the capital Malé.

The main plan said it is a “financial complex for Blockchain and digital assets worldwide,” it aims to three times the GDP of the Maldives within four years and generates revenues “more than a billion dollars by the fifth year.”

This announced investment comes just months after India revealed $ 760 million Rescue In order to draw the potential sovereign Maldives.

In December, “external liquidity pressures” launched by “external liquidity pressure” due to large external debt obligations “, including $ 600-700 million worth this year and about one billion dollars in 2026, including Sukok worth $ 500 million, a form of debt that frequent attention.

Zamer admitted the role that India and China played as “development partners” for his country, but he said that the financial position deal presented a new model.

“With MBS, we enter into work, it will be a completely different work from the traditional borrowing models we do,” said the Minister of Finance.

The archipelago includes political stability, good communication and proximity to large markets such as India and the Gulf states. But one of the major Indian businessmen said that it “will not be easy” to become Mali is a regional financial position, especially given the competition from well -known centers such as Dubai and Mauritius.