- Maldives is recipient of largest loan
- Will drive forward economic development
- Entire project amounts to US$ 800 million
The Governing Board of OPEC Fund for International Development (OFID) has passed to provide US$ 50 million (MVR 771 million) for the development of Ibrahim Nasir International Airport (INIA).
The Board passed to provide loans for 22 nations, and the largest amounts were released to Maldives and El Salvador. While a whole fund of US$ 300 million will be dealt as loans, both Maldives and El Salvador had receivedd US$ 50 million.
The Fund says that the loan will create jobs and create a state of the airport in the nation. With the development, the airport will be able to cater to 7.5 million passengers annually. No details of the loan had been publicized.
The US$ 800 million expansion project will develop INIA for the next 50 years and will create a state of art terminal, new runway, state of art fuel farm and other facilities. Loans will be taken from Saudi Fund and China's Exim Bank in addition to OFID.
Highlights of new terminal
- 78000 square meter area
- 40 departure gates
- 38 immigration counters
- 12 shaded jetties
- six aero bridges, can be converted to four bridges
- state of the art baggage screening and baggage service belts
- high expolsive detection system
- fuel hydrant systems
The construction is currently ongoing and is scheduled to be completed by 2018. Saudi Arabia's bin Laden Group is carrying out the project for a cost of US$ 300 million.
