The Ministry of Finance reported that the administration issued sovereign guarantees last year for loans worth MVR 750 million to state-owned enterprises MIFCO, Fenaka Corporation and HDC. The guaranteed borrowings came from Habib Bank and the Maldives Islamic Bank.
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The administration has issued guarantees for loans, worth MVR 750 million, to some state-owned enterprises last year, according to the Ministry of Finance.
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A sovereign guaranteed loan of MVR 150 million was taken from Habib Bank to develop MIFCO’s facilities at the islands of Funadhoo, Kooddoo and Thinadhoo, and purchase a vehicle.
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The administration has also guaranteed two MVR 200 million loans, totalling MVR 400 million, by the Fenaka Corporation from the Maldives Islamic Bank (MIB).
Word for word from the report in Maldives Republic. Open the report
The administration has also guaranteed two MVR 200 million loans, totalling MVR 400 million, by the Fenaka Corporation from the Maldives Islamic Bank (MIB).
Word for word from the report in Maldives Republic. Open the report
MIB also loaned HDC MVR 100 million, and US$6.49 million, which were secured via sovereign guarantees.
Word for word from the report in Maldives Republic. Open the report
The administration has issued guarantees for loans, worth MVR 750 million, to some state-owned enterprises last year, according to the Ministry of Finance.
Word for word from the report in Maldives Republic. Open the report