Kuwait Fund expresses confidence the current administration would complete the Velana International Airport (VIA) expansion project.
Describing the direction towards which the project is headed is clear, the co-financier of the project, Kuwait Fund, has pledged a further USD 50 million, as a concessional loan, for the project at the Maldives Partnership Forum 2019.
Speaking at the forum, Regional Director for South East Asia of the Kuwait Fund Yusuf Al Badr said the institution would remain assisting Maldives in its developmental efforts. He said the commitment of a further USD 50 million, as a concessional loan, reflects the confidence the institution harbours in the developmental plan of the current administration.
Speaking about future commitments Al Badr said in future Kuwait Fund will prioritise holistic developmental efforts. He said instead of funding separate projects, the institution aims to fund projects that would benefit certain beneficiary groups.
The Kuwait Fund has been providing developmental assistance to Maldives since 1976.