President Dr Mohamed Muizzu has said he would look into topping up existing Hiyaavahi Finance loans.
Speaking on the 12th episode of the Rayyithunge Adu programme, a participant said he received a loan to build his home under the Hiyaavahi Finance scheme. However, the loan amount allocated was less than what was required to build his home. While he applied for a USD 64,850 loan, he ended up receiving USD 42,153, which caused significant delays, he said.
Addressing this concern, the President said he had not been alerted to the issue before. He noted that the issue at hand played out in such a way that it does not align with his instructions and vision, adding that he would confirm via the relevant ministry if the deduction was due to any change in income.
The Hiyaavahi loan scheme offers up to USD 64,850 for atoll projects and USD 194,552.53 for urban centre cities. The financing scheme offers between USD 389,105 and USD 648,508 for projects in Male’.
The President assured to address any problems with the scheme and find solutions.