OPEC Fund Lends US$50m for new Airport Terminal – The Maldives International Airport gets a face-lift

The government of Maldives has signed a US$50 million loan agreement with the OPEC Fund for International Development, to pay for the renovation and expansion of the International Airport. According to reports from the Ministry of Finance and Treasury, the US$50 million loan will finance the construction of a new terminal at the Ibrahim Nasir International Airport. The airport currently has 3 terminals, which is not adequate to deal with the large arrival numbers. Tourism plays a vital role in the Maldives, as it brings in foreign exchange revenues and creates employment opportunities. The beautiful reefs and lavish accommodation, like at PER AQUUM Niyama Maldives for instance, a luxury resort in Maldives, attracts a large numbers of tourist annually. The plans to further develop the airport will assist in catering to an expected 7 million more tourist arrivals by 2018, the expansions estimated completion date.