International Finance Corporation (IFC) and Asian Development Bank (ADB) have decided to provide Dhiraagu with a USD 55 million loan to improve digital infrastructure and strengthen connectivity across the Maldives.

A statement released by the IFC noted that the first facility amounting to USD 25 million will support Dhiraagu's working capital and capital investment program to enhance the internet experience, including investments in 5G services and high-speed fibre broadband to more islands. It will also support Dhiraagu's Domestic Submarine Cable expansion project, which aims to enhance its capacity to meet the increasing data needs of the customers.

The second facility of USD 30 million will support Dhiraagu's SEA-ME-WE 6 Submarine Cable System project, connecting the Maldives to the global superhighway – an important step towards making the Maldives a global digital hub.

Dhiraagu noted that the cables being connected from Singapore to France will be completed within the first quarter of 2025, after which services from the project will begin.