Azeema: IGMH upgrade a good investment considering long-run benefit

Governor of Maldives Monetary Authority (MMA), Dr. Azeema Adam has commented that the huge upgrade on Indhira Gandhi Memorial Hospital (IGMH) was a good investment, when considering its positive impact on the country’s health sector in the long-run.

Maldivian government has contracted construction of the 25-storey - USD 140 million (MVR 2.1 billion) building to Singaporean company - Chang Hua Construction – without an open bidding process.

The government has already paid 10 percent of the cost – USD 14 million (MVR 215.88 million) to Chang Hua Construction as advance payment.

Governor Dr. Azeema was summoned for discussion by Budget Evaluation Committee of People’s Majlis during its meeting on Sunday night.

When questioned by Kaashidhoo MP Faisal Naseem – a member of Jumhoory Party (JP) – Dr. Azeema said she had advised the government regarding the cost of the upgrade on IGMH and the importance of assessing the impact it will have on foreign currency.

Azeema said the project should be proceeded with if it will have a significant positive impact on the health sector of Maldives in the long-run.

“This may not be the answer you expect from me. What I have to say is, what’s important is not the project itself but the possible significant benefits that can be derived from it,” said Azeema.

She said that if the project was sure to generate positive outcomes, it was a good project to fund – either through the State budget or even the national reserve.

Dr. Azeema noted the huge amount of money leaking out of the economy in payment to international hospitals under the Aasandha scheme, with patients having to be sent abroad under the Aasandha scheme even for minor surgeries.

She said the upgrade on IGMH was a good investment if it would provide a long-term solution to such issues.

Government has budgeted MVR 1.2 million in international loans for construction of the new IGMH building and MVR 74 million for equipment needed for the building in the projected State budget for 2017 it has submitted to People’s Majlis.

It’s expected to be complete before end of 2018.