President Dr Mohamed Muizzu has stated that the Hiyaavehi financing scheme is a golden opportunity for all citizens to ensure housing and homeownership and called on all citizens to reap the benefits of the scheme.
He reiterated this appeal in the community meeting, addressing the residents of Maamedhoo island during his visit to several islands in Huvadhu Atoll on Wednesday evening.
He added that one of the key aims of the Administration is seeking a lasting solution to the housing and homeownership issue in the country. As such, he said, the scheme, along with the Dhivehinge Raajje manifesto, seeks to provide adequate housing options for any Maldivian, living anywhere in the country.
Noting that administering housing schemes was the solution to the housing issue in the country, the President indicated that MVR 1.5 billion had been allotted to housing schemes under this year’s budget. This amount, he added, would be increased in the coming years, further solidifying the Administration’s pledge to address the housing issue.
President Dr Muizzu further said that at the end of this Presidential term, every Maldivian will have access to adequate housing solutions. This, he said, was a key pledge of the Administration and is to be carried out through housing units, loan schemes, and similar instruments.
President had announced a loan scheme with an interest cap of five percent in his address to the nation at last year’s Independence Day. The Hiyaavehi financing scheme was launched in November of the same year.
