Muizzu Urges Citizens to Make Use of Hiyaavehi Finance Scheme

President Dr Mohamed Muizzu said yesterday that the Hiyaavehi financing scheme is a golden opportunity for all citizens to ensure housing and homeownership and called on all citizens to reap the scheme’s benefits.

He reiterated the appeal of this meeting while addressing the community of Gaafu Alifu Atoll Maamendhoo during his tour of the Gaafu Alifu and Gaafu Dhaalu atolls. He visited Kanduhulhudhoo and Nilandhoo of the same atoll yesterday. He will conclude his trip today and return to Male’.

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He added that one of the key aims of this administration is to find a lasting solution to the country’s housing and homeownership issues. As such, the scheme, along with the Dhivehinge Raajje manifesto, seeks to provide adequate housing options for any Maldivian living anywhere in the country.

Noting that administering housing schemes was the solution to the country’s housing issue, the President indicated that MVR 1.5 billion had been allotted to housing schemes under this year’s budget. He added that this amount would be increased in the coming years, further solidifying the Administration’s pledge to address the housing issue.

President Dr Muizzu further said that by the end of this Presidential term, every Maldivian will have access to adequate housing solutions. This, he said, was a key pledge of the Administration and will be carried out through housing units, loan schemes, and other similar instruments.

In his address to the nation on Independence Day last year, the president announced a loan scheme with a five percent interest cap. The Hiyaavehi financing scheme was launched in November of the same year.

Additionally, while addressing the residents of Kanduhulhudhoo from the same atoll, President Muizzu pledged that the administration would address the space constraints faced by the island residents regarding their harbour. He said the Kanduhulhudhoo Island Council’s plans will be considered when further consultation with the government is needed.

While speaking at Nilandhoo, he said the future is bright for Maldivian farmers, and the government has started efforts to ensure food security for the nation. He further said that agriculture was a vital sector in diversifying the economy, and they are working on finding investors for this sector.