Gov’t will only take loans beneficial to the people: pres.
The president assured the people that the government would only take loans that would “benefit” the people
President Muizzu speaking with the residents of Maradhoo and Maradhoo Feydhoo
The government will only take loans that are beneficial to the people, says President Dr. Mohamed Muizzu.
He said this while speaking to residents of Maradhoo and Maradhoo Feydhoo districts of southernmost Addu City, as part of his tour of some islands in the south of Maldives which he began on Sunday morning.
Speaking at the meeting held at Irushadhiyya School, the president assured the people that the government would only take loans that would “benefit” the people.
Highlighting that he assumed office at a time the economy of the Maldives was on a downward spiral, the president noted that the administration had inherited a debt of MVR 120 billion, marking an unparalleled low in the nation’s recent economic history.
Stressing that loans taken by previous administrations had not comprehensively benefited the people, Muizzu stated that projects initiated under his administration, even those financed through loans, will be designed strategically to boost small and medium-sized enterprises.
He went on to assure that all loans will be structured for long-term repayment, incorporating a flexible plan to prevent undue strain on the economy.
In addition to this, the president revealed that key infrastructure projects will be implemented in alignment with the aspirations of the people within his five-year presidential term.
Some of these projects include developing the Addu City airport, the establishment of a seaplane hub, tourism expansion and bridge construction initiatives.
President Muizzu will be visiting several islands in the south including Addu City, Fuvahmulah City, Gaaf Alif and Gaaf Dhaal atolls as part of the tour.
During the tour, the president will be engaging in fruitful discussions with the councils and Women’s Development Committees (WDCs) of the cities and islands.
He will also hold discussions regarding the intended development plans for the respective island communities.
The island residents are also expected to share their pertinent needs, issues faced and concerns with the president.
Muizzu earlier expressed commitment to work closely with the people to deliver development promises.
As such, the president will be visiting and collaborating with local councils to mirror his commitment to ensure development for the people through a hands-on approach, to ensure that development projects echo the people’s needs and goals.
The president is accompanied by a high-level delegation of government officials during the tour.
