Abu Dhabi Fund approves loan for Maldives airport expansion
A loan agreement to finance the airport expansion was signed with the Abu Dhabi Fund for Development during President Abdulla Yameen’s ongoing official visit to the United Arab Emirates.
18 Oct 2017, 9:00 AM
A loan agreement to finance the expansion of the Maldives’ main airport was signed with the Abu Dhabi Fund for Development during President Abdulla Yameen’s official visit to the United Arab Emirates.
Economic Development Minister Mohamed Saeed signed the agreement on behalf of the Maldives at a ceremony Tuesday at the Ruler’s Court in Dubai.
Details of the loan have not been disclosed. According to the finance ministry, the Abu Dhabi Fund pledged a US$40 million loan in March last year.
In addition to a MoU on exempting diplomats from entry visas, bilateral agreements on the ‘Promotion and Reciprocal Protection of Investments’ and ‘Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and Capital’ were also signed Tuesday.
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