Agreement signed with China Exim Bank for $373 million loan for runway project

The government has signed an agreement with the Exim Bank of China for a loan worth $373 million for the construction of a new runway, as part of the Ibrahim Nasir International Airport (INIA) development project.

This has been confirmed to Sun Media by Minister of Tourism Moosa Zameer.

Speaking to Sun Media from China, Zameer said that the signing of the agreement followed discussions which lasted six hours.

In addition to the new runway, the loan money will also go to the construction of a fuel farm and cargo complex at the airport.

Zameer was accompanied in the meeting by Maldivian Ambassador to China Mohamed Faisal, Managing Director of Maldives Airports Authority Limited (MACL ) Adil Moosa, Minister of State for Finance Ahmed Munawwar, and Deputy Attorney General Ahmed Husham.