Gov’t Announces Low-Interest Loans for Tourism Development

President Dr Mohamed Muizzu has pledged that the government will introduce low-interest loans to support commercial projects, particularly in the tourism sector.

During a visit to HA. Filladhoo as part of his tour of Haa Alifu and Haa Dhaalu atolls, the President highlighted the need to facilitate tourism development in the region. He emphasised the importance of expediting projects on lands already designated for tourism in Filladhoo.

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Dr Muizzu stated that the government aims to create a more accessible financial environment for such developments. He noted that current borrowing terms through conventional banking systems could cause delays, making it necessary to introduce alternative financing options.

The President confirmed that discussions with the Minister of Finance on issuing these loans have been successfully concluded and that the process is now approaching the implementation phase.

He expressed confidence that the initiative would provide much-needed financial relief and support for tourism development in islands such as Filladhoo.