Kaashidhoo project had no feasibility, was initiated for elections: MITDC

Maldives Integrated Tourism Development Corporation (MITDC) has said that the “Kaashidhoo Tourist Village” project initiated by former President Abdulla Yameen’s government had no feasibility.

Speaking at a press conference, Managing Director of MITDC, Mohamed Raaidh said that the project which was given to MITDC was initiated for the elections, with a loan that the government had obtained.

“This project was financed with a USD 1 million loan from the Ministry of Finance,” Raaidh said.

He noted that while the loan money has long run out, works have only been carried out for a steel structure of a three storey building and another two small buildings. Works on neither have been completed.

He highlighted that such projects needed to be completed, regardless of the losses and debt faced by MITDC due to the previous government.