The Abu Dhabi Fund for Development (ADFD) has granted an additional USD 40 million (MVR 616 million) loan to the Maldives to further the development of a new terminal at Velana International Airport (VIA).

The loan agreement was formalised in a ceremony where Finance Minister Moosa Zameer represented the Maldives, while Director General Mohamed Saif Al-Suvaidi signed on behalf of the ADFD. Speaking at the event, Al-Suvaidi highlighted the fund's commitment to fostering infrastructure development in friendly nations. He expressed pride in supporting projects like VIA, which play a pivotal role in national development.

Finance Minister Zameer underscored the transformative impact of the VIA project, stating that it aligns with the Maldives’ national development objectives. He added that the upgraded terminal is expected to significantly boost tourism revenue and provide state-of-the-art services for international visitors.

This additional funding builds on the ADFD's earlier contribution of MVR 1.2 billion towards the airport expansion. The project, which has been a key focus for the Maldives Airports Company Limited (MACL), is slated for completion by July next year, according to MACL Managing Director Ibrahim Shareef. His update was shared during a Parliamentary sub-committee meeting on State-Owned Enterprises held on 24th November.

With this enhanced financial backing, the Maldives is well-positioned to transform Velana International Airport into a modern hub that meets the growing demands of its thriving tourism industry.