Agreement signed to acquire loan from Abu Dhabi Fund for airport development

An agreement has been signed to get a loan from the Abu Dhabi Fund for the development of Velana International Airport.

The agreement was signed on President Yameen's on going official visit to the UAE at the Ruler's Court in Dubai today.

At the ceremony, the President and the First Lady were greeted by the Vice President, Prime Minister of UAE and the Ruler of the Emirate of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.

While Velana International Airport development is underway contracted to Saudi's Bin Laden Group, the President's Office has yet to reveal how much of a loan the Abu Dhabi fund will be providing to the project.

Aside from the airport development, three other agreements were signed between UAE and the Maldives including those related to diplomatic and official VISA, a tax agreement and an agreement to protect investments.

The President's Office said that the official visit to UAE would have the President and the First Lady meeting state officials and discussing the bilateral relations between the two countries.