President Mohamed Muizzu has announced that a MVR 200,000 grant will be given to every household that takes a bank loan to construct a home.
He said the payment is a non-repayable form of assistance and that the funds have already been placed in a trust fund. The measure is intended to ease the cost of building or expanding housing for families.
The announcement comes as the government continues various housing support programmes. Details of eligibility criteria, application procedures and the timeline for disbursement have not yet been fully outlined.
Separately, staff at the Indira Gandhi Memorial Hospital have submitted a second petition to the president concerning salary increases and working conditions. They are seeking equalisation of allowances and fair pay for work on holidays and Fridays.
The housing grant is separate from other ongoing reclamation and housing projects. Officials have not indicated how many households are expected to benefit in the initial phase.
The president has previously highlighted housing as a priority area. Further information on how the grant will be administered is expected from relevant ministries.
