A loan has been secured for 5,000 housing units out of the flats that FDC has decided to build. The company’s Managing Director, Hamdhaan Shakeel, said that out of the 15,000 flats to be built in the Male’ area, loans have been secured from a Chinese bank for 5,000 flats so far. He said that the bank has shared a financial sheet including the loan amount, interest rate, and repayment period, and that this information has been submitted to the Ministry of Construction.

According to him, the Ministry will submit the report to the Economic Council in the coming few weeks. Hamdhaan said that once the Economic Council makes a decision regarding the loan, the agreement will be signed and the project will be launched. Hamdhaan stated that they are also seeking loans for additional housing units. He said that the details of these will also be available soon.

President Dr. Mohamed Muizzu announced last November that construction of more than 27,000 housing units will begin this year in Male’ and other islands. He said that out of these, 15,000 will be built in the Male’ area. FDC is currently building 4,000 flats in Hulhumale’. Out of the project entrusted to two Indian companies, 700 housing units have been completed and handed over.

President Dr. Mohamed Muizzu has said that the commencement of practical work on the Debt Sustainability Support Service (DSSS) will open a new chapter of sustainable development, providing solutions to the problems faced by small island developing states like the Maldives. The President said this while speaking as the Co-Chair at a meeting of the Strategic Action Group (SAG), established to coordinate the work of Small Island Developing States (SIDS).

In his speech, the President noted that many SIDS countries are facing or at risk of facing major financial challenges, in addition to the threat of climate change. Therefore, he said that ensuring sustainable debt management and resilient development is a sensitive issue for such countries. Hence, he emphasized the importance of starting DSSS work without delay. In his speech, the President sai In his speech, the President said that solving debt issues is important not only for achieving sustainable development in SIDS but also for overcoming challenges posed by climate change, environmental changes, and pollution. The President also highlighted the importance of finding sustainable solutions in collaboration with multiple parties, given the ongoing global political changes.

The President said that the Maldives proposed a “Debt-relief-for-resilience-building mechanism” to prioritize countries that invest in resilience through debt relief. He said that implementing such a mechanism aims to assess the vulnerable situation of each country and based on that, implement projects that would establish financial self-sufficiency in such countries. The President also said that such a mechanism aims to link debt relief with resilience goals and establish financial capacity to invest in sustainable development. The President said that the practical work of a facility like DSSS would open a new chapter of sustainable development, finding solutions to the problems faced by small island developing states.

In his speech, the President described the upcoming Fourth International Conference on Financing for Development (FFD-4) as a golden opportunity for global acceptance of DSSS. Although many countries have already approved this work, he said that international cooperation and participation are important to strengthen innovative debt mechanisms and concessional finance efforts. Concluding his speech, the President said that sustainable debt management is not just about statistics, but also about protecting lives, livelihoods, and securing the future.

Small Island Developing States (SIDS) is an association consisting of 38 United Nations member states and 20 non-UN members or associate members. The Maldives and Antigua and Barbuda are the co-chairs of the SIDS SAG.

Vice President Hussain Mohamed Latheef has congratulated on the agreement between the Global Council for Tolerance and Peace (GCTP) and the Non-Aligned Movement Parliamentary Network to strengthen efforts to establish global peace and stability. The agreement between GCTP and the The agreement between GCTP and the NAM Parliamentary Network was formulated during the ongoing 150th Inter-Parliamentary Union Assembly in Uzbekistan.

In a post shared on social media, Vice President Hussain Mohamed Latheef welcomed both organizations on formulating the agreement. He also stated that this agreement will play an important role in strengthening international relations and promoting the principles of diplomacy. The Vice President also mentioned that it is an honor for the Maldives to work in collaboration with GCTP.

The Global Council for Tolerance and Peace (GCTP) is an international organization that works to strengthen international relations, establish peace and security in the world, and eliminate discrimination based on race.

The Maldives has held discussions with Malta to strengthen relations in various sectors. These discussions took place during a meeting between Foreign Minister Dr. Abdulla Khaleel, who is currently on a visit to Malta, and Dr. Ian Borg, Deputy Prime Minister and Minister for Foreign Affairs and Tourism of Malta.

During the meeting held at the Office of the Deputy Prime Minister of Malta, both ministers noted that the Maldives and Malta are two countries with many similarities, and that this visit is an important step towards further strengthening the relationship between the two countries.

As small island nations, the ministers discussed collaborating in environmental areas, particularly in transitioning to renewable energy, and increasing new business opportunities. They also agreed to work on increasing foreign investments. Additionally, both ministers highlighted the importance of strengthening ties in tourism and higher education sectors, as well as enhancing people-to-people connections between the two countries.

During his visit to Malta, the Foreign Minister is also scheduled to meet with other cabinet ministers of the country. These consultations will focus on areas where the two countries can collaborate.

Speaker of the Parliament, Abdulla Shahid, has called for action to end the genocide and brutality being carried out by terrorist Israel in Gaza. Shahid made this call while delivering a speech at the 150th Assembly of the Inter-Parliamentary Union (IPU) currently underway in Tashkent, Uzbekistan. In his speech, Shahid expressed the Maldives’ concern over the ongoing unrest in Gaza and the dire situation facing its people, and called for urgent international action to end the brutality and maintain justice.

Speaking on the theme of this year’s IPU Assembly, “The Role of Parliaments in Achieving Social Development and Justice,” the Speaker highlighted the role of parliaments in legislating, overseeing compliance with laws and regulations, and improving people’s lives through political will. He noted important laws passed by the Maldives Parliament to promote social justice, including the Child Rights Protection Act, Gender Equality Act, Domestic Violence Prevention Act, and Social Health Insurance Act. The Speaker also said that these laws are being effectively implemented through parliamentary committees.

He highlighted President Dr. Mohamed Muizzu’s emphasis on modernizing the zakat system and providing aid at a modern standard, and spoke about the Maldives’ efforts to reduce poverty and ensure equal access to essential services. Additionally, he highlighted the importance of promoting economic empowerment through small and medium enterprises, especially providing necessary assistance to youth and women, mentioning free aid, loan, and training programs provided to such individuals.

Discussing the challenges and opportunities of digital technology, the Speaker highlighted the Maldives’ focus on ICT, digital inclusion, and e-governance to ensure no one is left behind in the digital age. In his speech, he noted that climate change is a threat to the Maldives, appealed to IPU members to protect vulnerable countries and act sustainably, and called for climate justice.