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SDFC extended the repayment period of COVID-19 pandemic loans to 10 years from the loan's start date and will transition them to zero interest, following President Dr Mohamed Muizzu's campaign pledge. Former President Ibrahim Mohamed Solih had previously directed the Finance Ministry to write off MVR 22.8 million in accrued interest, credit MVR 23.7 million of interest paid to principal, refund MVR 1.07 million in surplus, and extend repayment to 10 years.
Sources1carried itMR1 of 19 news outlets we monitor
Figures4as written, with their sentences
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.
What happened
in order; days are read from the reports' words and dates
Wed 15 NovFormer President Ibrahim Mohamed Solih requested the Finance Ministry to write off MVR 22.8 million in accrued interest on Covid-19 Relief …15 November 2023only Maldives RepublicDocumentation from the President’s Office and the Finance Ministry reveals that on 15 November 2023, President Solih had requested the Finance Ministry to write off MVR 22.8 million in interest accrued on Covid-19 Relief Loans.
Word for word from the report in Maldives Republic. Open the report
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
10 yearsLoan repayment period for COVID-19 loansMaldives RepublicSME Development Finance Corporation Limited (SDFC) has extended the repayment duration for loans issued during the COVID-19 pandemic to a total of 10 years from the loan’s start date.
Word for word from the report in Maldives Republic. Open the report
MVR 22.8 millionInterest on Covid-19 Relief Loans requested to be written offMaldives Republicon 15 November 2023, President Solih had requested the Finance Ministry to write off MVR 22.8 million in interest accrued on Covid-19 Relief Loans.
Word for word from the report in Maldives Republic. Open the report
MVR 23.7 millionInterest paid by borrowers to be credited towards principalMaldives RepublicPresident Solih proposed that the MVR 23.7 million paid by borrowers as interest up to that date be credited towards the principal loan amount.
Word for word from the report in Maldives Republic. Open the report
MVR 1.07 millionSurplus interest paid to be refundedMaldives RepublicHe also directed the Finance Ministry to refund the excess MVR 1.07 million paid as surplus and to extend the repayment period for the Covid loans to a duration of 10 years.
Word for word from the report in Maldives Republic. Open the report
Other events named
no clear day, as worded
President Dr Mohamed Muizzu declared the abolition of interest on COVID-19 loans during a campaign rally.Fonadhoo Island of Laamu AtollMaldives RepublicThis announcement came after President Dr Mohamed Muizzu declared the abolition of interest on such loans during a campaign rally in Fonadhoo Island of Laamu Atoll.
Word for word from the report in Maldives Republic. Open the report
