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Government Plans $600M Loan After Rasmalé Financing U-Turn
The Maldives government has reversed the contractor-financing model for the Rasmalé reclamation project at Fushidhiggaru Lagoon and plans to raise US$600 million in loans, with funds expected from three state-owned companies. The President's Office also authorised using MMA usable reserves or India's US$400 million currency swap facility for an advance payment to contractors, amid junk credit ratings and limited reclamation progress.
Sources1carried itMR1 of 19 news outlets we monitor
Figures7as 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
Tue 1 JulA letter signed by Principal Secretary to the President Mohamed Shahid instructed Finance Minister Moosa Zameer to urgently arrange an adva…July 1only Maldives RepublicA letter dated July 1 and signed by Principal Secretary to the President Mohamed Shahid instructed Finance Minister Moosa Zameer to urgently arrange an advance payment to resume stalled reclamation work.
Word for word from the report in Maldives Republic. Open the report
How the reporting differs
one source so far
Maldives RepublicNews outlet
Government Plans $600M Loan After Rasmalé Financing U-Turn
US$600 million Total planned loans to fund reclamation works
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$600 millionTotal planned loans to fund reclamation worksMaldives RepublicThe government has reversed its earlier contractor-financing model for the Rasmalé project and is now planning to raise US$600 million in loans to fund reclamation works at Fushidhiggaru Lagoon
Word for word from the report in Maldives Republic. Open the report
US$300 millionLoan contribution from Greater Malé Financial District LimitedMaldives RepublicThe funds are expected to come from three state-owned companies: Greater Malé Financial District Limited (US$300 million), Maldives Airports Company Limited (US$200 million), and State Trading Organisation (US$100 million).
Word for word from the report in Maldives Republic. Open the report
US$200 millionLoan contribution from Maldives Airports Company LimitedMaldives RepublicGreater Malé Financial District Limited (US$300 million), Maldives Airports Company Limited (US$200 million), and State Trading Organisation (US$100 million).
Word for word from the report in Maldives Republic. Open the report
US$100 millionLoan contribution from State Trading OrganisationMaldives RepublicMaldives Airports Company Limited (US$200 million), and State Trading Organisation (US$100 million).
Word for word from the report in Maldives Republic. Open the report
US$400 millionIndia currency swap facility sizeMaldives Republicthe US$400 million currency swap facility with India to make an advance payment to contractors.
Word for word from the report in Maldives Republic. Open the report
US$217.9 millionMMA usable reservesMaldives RepublicMMA data showed usable reserves stood at US$217.9 million at the end of May, with June figures yet to be released.
Word for word from the report in Maldives Republic. Open the report
1,100 hectaresPlanned reclamation areaMaldives RepublicDespite initial promises to complete dredging within eight months, only a small part of the planned 1,100 hectares has been reclaimed.
Word for word from the report in Maldives Republic. Open the report
