Pres pledges dedicated fund for guesthouse loans
SDFC, the Maldives' first ever SME bank established by the government, provides concessional loans for the construction of guesthouses.
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President Ibrahim Mohamed Solih on Wednesday pledged to establish a dedicated fund to provide concessional loans to build guesthouses in the islands.
After a two-day campaign visit to 10 islands of Shaviyani Atoll, the president began a four-day tour of Haa Alif Atoll on Tuesday. He visited Barah as his first stop in the Haa Alif Atoll tour.
Speaking at a rally held at the island's harbour area, President Solih said that with the transformative developments being brought about made by his government to the northernmost three atolls, all islands will be positively affected.
Noting that Barah island has a bright future, the president said there is no island better suited to develop local tourism.
Be ready, In the next term, as part of our policy, we will set up a fund for construction of guesthouses and make it easier to get concessional loans," he said.
This will create employment opportunities in the islands and enable them to work in their own islands while staying with their families, the president said.
SME Development Finance Corporation (SDFC), the Maldives' first ever SME bank established by the government, provides concessional loans for the construction of guesthouses.
