The Abu Dhabi Fund for Development (ADFD) has committed an additional Dh147 million ($40 million) to the Velana International Airport development project in the Maldives, reinforcing its role in advancing critical infrastructure in partner countries. This latest funding supplements an earlier loan of Dh183.5 million ($50 million) provided in 2017 for the initial phases of the project.
“This funding reflects the critical role of ADFD in driving economic and social development in partner countries through transformative infrastructure projects,” said Mohamed Saif Al Suwaidi, Director General of ADFD. “The additional support for the modernisation and expansion of the Velana International Airport will promote the Maldives’ growth, as it increases capacity to meet the rising demand from a thriving tourism sector.” He added that the initiative aligns with the Maldivian government’s development objectives to drive employment and sustainable development.
The Velana International Airport expansion aims to significantly increase capacity, accommodating up to 26 gates for aircraft access and a dedicated building for international flights. Upon completion, the airport will handle up to 7.5 million passengers annually, bolstering the Maldives’ position as a global tourism hub.
Since 1976, ADFD has supported numerous strategic projects in the Maldives, spanning vital sectors such as transportation, energy, tourism, and housing. These initiatives have contributed to improving the quality of life for local communities and advancing sustainable development in the country.
