Gov’t Extends Deadline for Hiyaavehi Financing to End of April
Photo: MV+
Ministry of Construction, Housing, and Infrastructure extends the deadline to submit applications for the Hiyaavehi Financing to April 30.
The previous deadline, announced on November 8, 2024, was April 8, 2025. However, in a gazetted notice today, the ministry extended the deadline for the application submission by three additional weeks.
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According to the ministry, the Islamic facilities will be provided in collaboration with three banks in the Maldives at a five percent profit percentage.
In this regard, the facility will provide up to MVR 1 million to applicants from atolls under the Rahvehi Financing Scheme, MVR 3 million to applicants from urban centres designated by the ministry through the Saharu Financing Scheme and MVR 6 million to applicants from the Greater Male’ area.
Projects that qualify for these loans include new buildings that are yet to be built and projects that have halted for any reason.
