Mon, 16 Jun 2025

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DHIVEHI

Loans below 3 per cent interest approved for tourism land development

28 Jan 2025

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Aishath Leah

Photo: President's Office

President Dr Mohamed Muizzu has announced loans at below 3 per cent interest for developing council-allocated tourism lands, whilst addressing residents of Haa Alifu Filladhoo.

The Government has designated Haa Alifu Filladhoo, Kelaa, and Vathafaru for tourism expansion in conjunction with Hanimaadhoo International Airport development. The President noted Filladhoo's strategic potential due to its location and available land.

The initiative is being implemented through the Ministry of Finance and Bank of Maldives, with loans offered at 3 per cent below commercial rates to accelerate development in the region. The President indicated this would facilitate both land development and infrastructure integration.

Plans include developing two resorts in Haa Alifu Kelaa lagoon and expanding tourism in Vathafaru. Haa Dhaalu Nagoashi, under Maldives Tourism Development Corporation (MTDC) management since 2006, will be developed for tourism alongside additional islands in Haa Dhaalu atoll.

The northern four atolls have been designated as an integrated development zone, with plans to diversify both tourism and fisheries sectors.

The President announced priority infrastructure developments for Filladhoo, including road modernisation to address flooding issues. Road Development Corporation (RDC) has been mobilised to upgrade roads from the harbour to the island's interior.

Healthcare and education improvements are planned over the next two years, with waste management systems to be established on all islands by year-end.

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