Minister of Finance Mohamed Shafeeq said Exim Bank of India funds earmarked for a Malé commercial port at Gulhifalhu will be redistributed to other projects after the Muizzu administration moved the port to Thilafushi. The port was to be financed through a US$800 million Exim Bank credit line against an estimated US$400 million cost.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
No funding will be lost and the money will be distributed to implement the most advantageous projects to the people and the economy
We will hopefully establish a fully international commercial port at Thilafushi. The development there will hopefully be linked to the airport development. As we envision, it will offer a very wide pathway for economic growth
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The estimated US$400 million (MVR 6.1 billion) required for a commercial port at Gulhifalhu, as was initially planned by the Ibrahim Mohamed Solih administration, was to have been financed via a US$800 million credit line from Exim Bank of India.
Word for word from the report in Maldives Republic. Open the report
was to have been financed via a US$800 million credit line from Exim Bank of India.
Word for word from the report in Maldives Republic. Open the report
the second phase of the reclamation alone set to cost MVR 2 billion.
Word for word from the report in Maldives Republic. Open the report
President Muizzu said during the ceremony to announce the development of Velana International Airport (VIA), that Gulhifalhu was not suited for a commercial port.
Word for word from the report in Maldives Republic. Open the report
