The Abu Dhabi Fund for Development has signed a new agreement with the Maldives to provide an additional $40 million (MVR 616 million) for the ongoing development of Velana International Airport (VIA).
Funding Details:
- Additional Loan: $40 million added to support the airport development.
- Previous Contributions:
- $50 million (MVR 771 million) previously provided by the Abu Dhabi Fund.
- $180 million (MVR 2.8 billion) secured from the Saudi Fund.
Statements at the Signing Ceremony:
- Abu Dhabi Fund Director Mohammed Al Suwaidi:
- Reaffirmed Abu Dhabi’s commitment to supporting infrastructure development in friendly nations.
- Highlighted the loan’s role in modernizing VIA, fostering economic growth, and addressing the increasing demands of the Maldives’ tourism industry.
- Finance Minister Moosa Zameer:
- Expressed gratitude to the Abu Dhabi Fund for its long-standing support of Maldives’ development efforts.
New Terminal Development Goals:
- Passenger Capacity: The terminal will accommodate 7.5 million passengers annually.
- Job Creation: An estimated 1,800 new jobs will be generated at VIA.
- Airline Services: Enhanced facilities will allow more airlines to operate in the Maldives, complementing the 30+ airlines currently serving the country.
Completion Timeline:
- The government plans to complete the airport development project within the next year.
This additional funding underscores the Maldives’ commitment to strengthening its aviation infrastructure to meet growing tourism demands while fostering economic development and creating job opportunities.
