A loan of MVR 650 million has been issued to Maldives Airports Company Limited for reclamation of the Giraavaru lagoon.
The funding is intended to support the reclamation project. Details of the lender and repayment terms were not immediately available in public statements.
Giraavaru lagoon reclamation forms part of broader airport and infrastructure development plans in the area.
MACL has been undertaking several large-scale projects linked to Velana International Airport expansion and surrounding development.
