ADFD Provides Another USD40 Million for Maldives Airport Project

The Abu Dhabi Fund for Development (ADFD) has announced a new loan of USD40 million to support the ongoing development of the Maldives’ main airport, Velana International Airport.

This follows an earlier loan of USD50 million provided by ADFD in 2017 for the project’s initial phases, underscoring the airport’s significance in driving tourism.

The agreement was signed on behalf of the Maldives government by the Minister of Finance Moosa Zameer while Director General Mohamed Saif Al Suwaidi signed on behalf of the ADFD.

The Velana International Airport expansion includes the addition of up to 26 aircraft gates and a new terminal building for international flights, enabling the airport to handle up to 7.5 million passengers annually.

Minister Moosa Zameer expressed gratitude for the continued support of the United Arab Emirates (UAE) to the Maldives, highlighting the importance of the funding for the airport’s modernisation.

“This project is a significant step towards establishing a state-of-the-art international airport with world-class facilities. It aligns with our national objectives to boost tourism revenues, enhance the travel experience, and advance sustainable development in the Maldives,” he said.

ADFD’s Director General Al Suwaidi emphasised the fund’s commitment to transformative infrastructure projects that foster economic and social development in partner countries.

“This funding reflects the critical role of ADFD in driving development through key initiatives. The modernisation and expansion of Velana International Airport will enable the Maldives to meet rising demand from its growing tourism sector, a vital contributor to the country’s economic growth,” he said.

He added that the initiative aligns with the Maldivian government’s broader development goals.

“ADFD is dedicated to deepening its partnership with the Maldives, advancing projects that enhance employment opportunities, improve infrastructure, and promote sustainable development.”

ADFD has been an active partner in the Maldives’ development since 1976, funding strategic projects across the transportation, energy, tourism, and housing sectors. These investments have significantly improved living standards for local communities and contributed to the country’s economic resilience.

The new terminal spans 78,000 acres and will significantly expand VIA’s capacity. The current international terminal, which handles 1.5 million passengers annually, will be replaced by the new facility, designed to accommodate up to seven million passengers each year.

The upcoming terminal will feature advanced amenities, including aero boarding bridges and the latest baggage handling systems. It will address the space limitations of the existing terminal, providing expanded areas for food and beverage outlets, retail shops, lounges, and other passenger services.

Once operational, the new terminal is expected to enhance the overall passenger experience and support the Maldives’ growing status as a global tourism hub.