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ABU DHABI / WAM
Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, extended a $50 million (AED183.65 million) concessionary loan to the Maldivian government to develop the Velana International Airport in Male.
The development project includes the construction of a new 3,400-metre runway with a breakwater and rehabilitation of the old runway. In addition, the funding will help build a new west passenger terminal and a maintenance building, and complete phase-1 works of the south terminal.
Mohammed Saif Al Suwaidi, Director-General of ADFD, said, “This new collaboration further solidifies the strong and close bilateral ties shared between the UAE and the Maldives.
“Over the past four decades, ADFD has financed infrastructure, telecommunications, transport, housing and energy projects in the Maldives valued at more than AED109 million,†Al Suwaidi added.