The Saudi Fund for Development has extended a $17 million loan to the Maldives to support the completion of the Velana International Airport (VIA) development project.
The loan agreement was signed on Monday at a ceremony held at the President’s Office. Finance Minister Moosa Zameer signed the agreement on behalf of the Maldivian government, while CEO Sultan bin Abdulrahman Al-Murshid represented the Saudi Fund for Development.
This marks the second time the Saudi Fund has extended assistance for the airport's development since the large-scale upgrade project began.
Speaking at the ceremony, Minister Zameer acknowledged the delays in completing the airport and emphasized the importance of finalizing the project to ensure sustainable and efficient transportation infrastructure for the Maldives. He reaffirmed the government’s commitment to giving high priority to the completion of VIA’s ongoing development.
The Velana International Airport expansion project is one of the most significant infrastructure undertakings in the Maldives, aimed at increasing passenger capacity and boosting the country’s tourism sector.
The loan agreement was signed on Monday at a ceremony held at the President’s Office. Finance Minister Moosa Zameer signed the agreement on behalf of the Maldivian government, while CEO Sultan bin Abdulrahman Al-Murshid represented the Saudi Fund for Development.
This marks the second time the Saudi Fund has extended assistance for the airport's development since the large-scale upgrade project began.
Speaking at the ceremony, Minister Zameer acknowledged the delays in completing the airport and emphasized the importance of finalizing the project to ensure sustainable and efficient transportation infrastructure for the Maldives. He reaffirmed the government’s commitment to giving high priority to the completion of VIA’s ongoing development.
The Velana International Airport expansion project is one of the most significant infrastructure undertakings in the Maldives, aimed at increasing passenger capacity and boosting the country’s tourism sector.
