President Dr. Mohamed Muizzu has announced plans to launch major projects worth over USD3.2 million each in various regions of the country starting in June of this year. He made the announcement during a gathering with with the residents Maavah, Laamu Atoll.
Speaking at the gathering, President Dr. Muizzu outlined his plans to spearhead various developmental projects in Maavah, revealing that some projects have already been incorporated into this year's budget. He also said that not all the projects that he desired were incorporated due to the budget's prior formulation by the previous administration.
Additionally, President Dr. Muizzu noted the halt in currency printing as a pivotal decision, enabling the initiation of projects using generated revenue. Despite limited budget allocations, he expressed determination to kickstart most projects over USD3.2 million by June, mainly focusing on land reclamation and harbour development, with plans for additional projects throughout the year.
Furthermore, President Dr. Muizzu highlighted specific projects earmarked for the development of Maavah. As such, he outlined a housing initiative reclaiming 30 hectares to address housing needs of the youth, supplemented by the issuance of soft loans at a reduced interest rate of 5%, contrasting with the typical 12% rate. He also underscored the affordability of such loans as a government priority.
Moreover, President Dr. Muizzu disclosed plans for a tourist resort near Maavah, alongside commitments to road development and flood mitigation projects, aiming to resolve recurring flooding issues on the island.