President Muizzu Vows to Review Affordable Finance Loan Top-Ups

President Dr. Mohamed Muizzu has stated that ways to further top up loans under the existing procedure for loans distributed under Affordable Finance will be reviewed. The President made this statement in connection with a concern raised by an individual during the 12th episode of the "Raiyithun Ge Adhu" programme. During the programme, a citizen stated that although loans were arranged under Affordable Finance, they had not received the necessary amount, causing difficulties in house construction. He stated that while loans are scheduled to be distributed up to 1 million Rufiyaa for the interior of the country under this scheme, he had only received 650,000 Rufiyaa through application. Consequently, he highlighted that he was facing challenges in completing the construction of his house. In connection with this concern, the President stated that such an issue had not come to his attention before. Noting that this situation was not happening according to what he had decided or planned, the President said that he would closely review this matter. "One million Rufiyaa is intended for houses built in islands. I also know well that it cannot be completed with 600 thousand Rufiyaa. Considering income, if it has been reduced, specific cases will be reviewed thoroughly by the Ministry. Whether additional loan topping up can be obtained within the existing procedure. If this can be done, I will let you know about providing support within the existing procedure," the President said. The Affordable Financing Programme comprises three schemes. These are the Island Financing Scheme, Urban Centre Financing Scheme, and Malé Financing Scheme. Among these, individuals from the atolls of the country applying under the Island Financing Scheme will receive 1 million Rufiyaa. Individuals from urban centres applying for the Urban Centre Financing Scheme will receive 3 million Rufiyaa. In the opportunity opened for the Malé area, homeowners together will receive funds starting from 6 million Rufiyaa up to 10 million Rufiyaa. During the programme, the President gave assurance that citizens' concerns raised would be properly addressed with justice. Furthermore, the President stated that if anything had gone wrong, he would rectify it and provide solutions to these matters.