Sunday
24th Nov 2024
Dhivehi Edition
President Dr. Mohamed Muizzu speaking in Addu City. | Photo: President’s Office
The previous government's loans for projects have not benefited the public, however the loans taken by this government will enrich the people, President Mohamed Muizzu said yesterday.
The President, who is currently on a tour of the southern atolls of the country, said the previous government was taking loans worth USD $100 million every year, but the projects implemented by the loans did not benefit the people.
“The problem is not borrowing. Governments can work by getting various kinds of financial facilities, not borrowing but other kinds of facilities. However, it is different to do it in the best interest of the people,” he said.
The President cited the China Maldives Friendship Bridge Project, which was implemented under free aid and loans by the former President Abdullah Yameen's government, as an example of a project that benefited the public.
"Many people benefitted from the project while it was ongoing. Whether it was procuring materials, logistics work, buying food for the employees who came to work, it was a project where people and companies in the country had the opportunity to get involved in every aspect of the processes," he said.
The President has stated that the government will take loans for projects to enrich the people, revive small and medium enterprises, and improve the economy.
During his visit to China at the invitation of Chinese President Xi Jinping in early January, 20 agreements were signed between Maldives and China in various fields.