President Dr Mohamed Muizzu has declared that the Government will waive interest on loans provided during the COVID-19 pandemic through the SDFC and HDFC. He announced this decision while speaking to the residents of L. Fonadhoo on Thursday.
In his address, the President announced that individuals can apply for the interest waiver upon the Government reopening post-Eid al-Fitr. He highlighted the challenges faced by people in repaying loan interest due to the pandemic and emphasised that this measure aims to provide further relief to the public.
President Dr Muizzu emphasised plans for Fonadhoo's development, affirming his commitment to fulfilling all promises made for the island's progress, the atoll, and the nation. As such, Fonadhoo will be developed as one of the urban centres identified across seven regions of the Maldives. Housing will receive the utmost priority during this development, with further land reclamation and a significant housing project planned for the island.
Additionally, the President underscored initiatives aimed at enhancing Laamu Atoll’s prosperity. He pointedly relayed plans to develop tourism offerings with various concepts near the islands across different sectors of Hahdhunmathi Atoll.
