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Government Seeks $100M in First Cross-Subsidy Project for National Security

The government raised the investment target for its first national-security cross-subsidy project to US$100 million, up from the US$15 million originally set by a presidential decree on 21 March, with Hiymiya Falhu lagoon offered to investors. The move comes amid unconfirmed speculation about a Turkish missile and ship deal and allegations that drones procured from a Turkish firm cost US$37 million.

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What are the key figures?

Sources 1carried it 1 of 19 news outlets we monitor
Figures5as 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
  1. Fri 15 Mar
    President Mohamed Muizzu and Defence Minister Mohamed Ghassan Maumoon inspected a Bayraktar TB2 drone during the inauguration of the MNDF A…Noonu Atoll 15 March 2024 only Maldives Republic President Mohamed Muizzu and Defence Minister Mohamed Ghassan Maumoon inspect a Bayraktar TB2 drone, manufactured by Turkey's Baykar Technologies, during the inauguration of the MNDF Air Corps and the commissioning of unmanned aerial vehicles (UAVs) at Maafaru International Airport in Noonu Atoll on 15 March 2024.

    Word for word from the report in Maldives Republic. Open the report

  2. Fri 21 Mar
    A presidential decree introduced the cross-subsidy policy originally aiming to raise US$15 million. 21 March only Maldives Republic newest Initially introduced through a presidential decree on 21 March, the policy originally aimed to raise US$15 million.

    Word for word from the report in Maldives Republic. Open the report

How the reporting differs

one source so far

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
  • US$100 million cross-subsidy investment target Maldives Republic The government has launched the first cross-subsidy project tied to national security, increasing the investment target to US$100 million.

    Word for word from the report in Maldives Republic. Open the report

  • US$15 million original investment target Maldives Republic Initially introduced through a presidential decree on 21 March, the policy originally aimed to raise US$15 million.

    Word for word from the report in Maldives Republic. Open the report

  • 712-hectare Hiymiya Falhu lagoon area Maldives Republic the government is offering Hiymiya Falhu, a 712-hectare lagoon near Malé, which experts estimate to be worth over US$40 million

    Word for word from the report in Maldives Republic. Open the report

  • over US$40 million estimated value of Hiymiya Falhu Maldives Republic a 712-hectare lagoon near Malé, which experts estimate to be worth over US$40 million

    Word for word from the report in Maldives Republic. Open the report

  • US$37 million reported cost of drones Maldives Republic Various sources indicate the drones were purchased for US$37 million—well above market rates—prompting allegations of corruption.

    Word for word from the report in Maldives Republic. Open the report

Subjects

sectors and approved topics, alphabetical
Construction & propertyFinance & banking

Named in these reports

alphabetical
Baykar TechnologiesMaldives National Defence ForceMohamed Ghassan Maumoon Defence MinisterMohamed Muizzu PresidentPresident's Office