Govt to issue low interest loans for commercial projects

President Dr. Mohamed Muizzu today pledged that the government plans to issue low interest loans for commercial projects.

Speaking to the people of HA. Filladhoo during his visit to the atoll, President Dr. Muizzu said tourism needs to be facilitated for the islands of Haa Alifu and Haa Dhaalu atolls.

Pledging to facilitate the construction of lands already designated for tourism development in Filladhoo, the president announced plans to issue low interest loans for commercial projects.

"The government wants to enable the development of these places. With the way it is now, delays will be incurred if [we] look at developing those places by taking out loans on terms not available via regular banking systems," Dr. Muizzu said.

He further added that discussions with the Finance Minister regarding the issuance of these loans for have been successfully completed, and that they are nearing the issuing phase.

According to the President, these loans will provide significant relief and support for the development of tourism in islands like Filladhoo.