The Minister of Finance Dr. Mohamed Shafeeq has affirmed that the loans provided by the Saudi Fund for Development (SDF) will boost the economic growth of the nation. The Maldives has signed loan agreements with the SDF, aiming to propel the advancement of Velana International Airport (VIA) and strengthen the healthcare sector.
Finance Minister Dr. Mohamed Shafeeq, and CEO of SFD, Sultan Abdulrahman Al-Marshad, formalised the agreements during a ceremony held at the Ministry of Finance. The agreements outline the provision of a substantial USD100 million loan under the VIA Development Agreement, while the healthcare sector is set to benefit from USD50 million under the signed accord.
Speaking at the ceremony, Minister Dr. Shafeeu stated that the provision of financial assistance will ensure the developmental projects are completed expeditiously. The minister further recognised the commitment of SDF, acknowledging its assistance to enhance and develop various other fields of the nation.
During the event, CEO Sultan Abdulrahman stated that the healthcare sector assistance aims to elevate medical services' quality across the Maldives' islands. He disclosed that hospitals will be established in three regions of the country with the financial assistance provided.
Furthermore, CEO Sultan Abdulrahman revealed that the first loan it provided to the Maldives was in 1978, to assist in the developmental project of an international airport in the nation. He additionally asserted the provision of financial assistance to the Maldives, worth USD470 million, under 16 loan agreements.