Muizzu Unveils Imminent Soft Loan Scheme for Home Construction Projects
Photo: The President’s Office
President Dr. Mohamed Muizzu has announced that applications are set to open imminently for soft loans designed to facilitate the completion of home construction projects.
The president unveiled this initiative during his address at a ceremony convened on Monday evening to inaugurate the campaign centre of Ahmed Zameer, an independent candidate supported by the main ruling People’s National Congress (PNC) for the Central Machangolhi parliamentary seat.
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President Muizzu outlined that the new scheme will extend loans to individuals embarking on their inaugural home-building ventures, with an interest rate ceiling fixed at five percent. The primary objective of this programme, he articulated, is to aid those who possess land but lack the financial means to actualize residential construction or secure conventional loans.
Emphasising the accessibility of the scheme, President Muizzu stated that the application process will commence “very soon.”
The implementation of a soft loan scheme to facilitate home construction aligns with one of President Muizzu’s electoral commitments.
