The Government of Maldives and the Saudi Fund for Development (SFD) have signed an agreement for an additional loan of USD 16.9 million to support the expansion of Velana International Airport (VIA).
The signing ceremony took place at the President’s Office on Saturday. Minister of Finance and Treasury Moosa Zameer signed the agreement on behalf of the Maldivian government, while the Chief Executive Officer of the SFD, His Excellency Sultan bin Abdulrahman Al-Murshid—recipient of the Order of Nishanmuli Sharaf—signed on behalf of the Fund.
This additional financing is expected to provide greater momentum to the ongoing development of the country's main international gateway. The government stated that the extra funding will help expedite the completion of the project and unlock multiple economic opportunities for the nation.
Upon completion, the expansion of Velana International Airport will significantly increase the Maldives' capacity to accommodate more tourists and international carriers. This is anticipated to deliver major boosts to tourism, business, and transportation sectors—further reinforcing tourism’s central role in the nation's economic growth.