President Mohammed Muizzu announced that the Government would only intend to secure loans with the explicit aim of improving the financial well-being of citizens. His statement came during a meeting with residents of Maradhoo and Maradhoo-feydhoo in Addu City earlier today.
Highlighting the past practices, the President noted that the previous administration had borrowed over $100 million annually with minimal tangible benefits reaching the populace. Conversely, he assured that loans procured under the current government would directly contribute to the welfare of the people.
Emphasizing a strategic approach to borrowing, the President emphasized that loans would be structured over an extended period to mitigate any adverse impact on the economy. He asserted that such financial initiatives would play a pivotal role in revitalizing small and medium-sized enterprises.
The President further revealed that key infrastructural projects, including developing the Addu City airport, the establishment of a seaplane hub, tourism expansion, and bridge construction initiatives, would be executed in alignment with the people’s aspirations, all within his five-year term of office.
A high-level Government delegation accompanies the President on his tour of several islands in Addu City, Fuvahmulah City, and the North and South Huvadhu Atolls.
Highlighting the past practices, the President noted that the previous administration had borrowed over $100 million annually with minimal tangible benefits reaching the populace. Conversely, he assured that loans procured under the current government would directly contribute to the welfare of the people.
Emphasizing a strategic approach to borrowing, the President emphasized that loans would be structured over an extended period to mitigate any adverse impact on the economy. He asserted that such financial initiatives would play a pivotal role in revitalizing small and medium-sized enterprises.
The President further revealed that key infrastructural projects, including developing the Addu City airport, the establishment of a seaplane hub, tourism expansion, and bridge construction initiatives, would be executed in alignment with the people’s aspirations, all within his five-year term of office.
A high-level Government delegation accompanies the President on his tour of several islands in Addu City, Fuvahmulah City, and the North and South Huvadhu Atolls.
