Loan of USD 20 million to be taken to develop Addu Hospital

The Government has decided to acquire a loan of USD 20 million (MVR 308.4 million) to develop the hospital in Addu City.

Speaking at a press conference at the President’s Office by the Economic Council today, Finance Minister and Member of the Economic Council, Abdulla Jihad said that they have decided to take a loan to develop the hospital in Addu City from two funds.

“We have decided to take the loan from two funds. That is USD 12 million from the Saudi Fund and the rest from OPEC fund.” Minister Jihad said.

He said that the loans would be acquired with a low interest rate of two percent.

Speaking at the press conference, Fisheries Minister and Co-chair of the Economic Council, Dr. Mohamed Shainee said that the highest priority of the Government would be to provide the services from the hospital to the people of Addu.

And so building a new hospital is much more costly.

“Rather than building a new hospital to provide services, the priority is to improve the services that need to be provided. So our thinking is to introduce new services and expand them at existing facilities.” Minster Dr. Shainee said.

He said that they want to begin the project this year.

Minster Dr. Shainee said that although they decided to improve the services, their aim is not to build a new hospital.