The government and national bank, Bank of Maldives (BML) has jointly finished paying off the loans taken by families affected by the 2004 tsunami.
The President’s Office revealed that upon President Ibrahim Mohamed Solih’s request, the government had on Wednesday paid off MVR 15.2 million from the MVR 30.4 million; from a total of 455 loans.
While the government has paid of 50 percent of unpaid loans, BML had pardoned the remainder (MVR 15.2 million).
The decision was made as the affected families who have taken said loans face difficulties in paying them off and to make it efficient for them as days are rolling by. As such, the office revealed that all loans have been paid off or pardoned, and that there are none left.
During his presidential campaign, President Solih pledged to pardon the loans taken by families affected by the tsunami in September 2018, having stated that the loans taken by everyone effected by the tsunami must have a skyrocketed interest.
During the tsunami that struck Maldives in December 2004, a total of 84 lives had been taken and 24 misplaced. 15,000 citizens had lost their homes to the dreadful waves and 62 percent of the population mourned the destruction left in its wake.
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