ADFD elevates Maldives aviation with Velana Airport

Abu Dhabi Fund for Development (ADFD) participated in the inauguration of the Velana International Airport, a project that aims to significantly enhance Maldives’ infrastructure.

 

With a total investment of AED330.5 million ($90 million) from ADFD, the project was implemented in two phases, receiving co-financing from Saudi Fund for Development, Kuwait Fund for Arab Economic Development, and Opec Fund for International Development.

 

This cooperation highlights the shared commitment of regional development institutions to support high impact projects in developing nations to contribute to an inclusive, sustainable growth.

 

Attending the inauguration ceremony, which coincided with Maldives' 60th independence anniversary, were Dr Mohamed Muizzu, President of the Republic of Maldives, Mohamed Al Suwaidi, Director-General of ADFD, and Rahma Al Shamsi, UAE Ambassador to the Republic of Maldives, along with senior officials from both nations and from Saudi Fund for Development, Kuwait Fund for Arab Economic Development, and Opec Fund for International Development.

 

ADFD’s funding played a critical role in enhancing the operational capacity of Velana International Airport, accommodating over 7 million passengers annually meeting the nation’s growing travel demand.

 

The project included the expansion of the airport’s western passenger terminal, the implementation of 26 passenger boarding bridges, and the construction of a state-of-the-art international terminal.

 

These enhancements reinforce the Maldives’ position as a key hub for commercial, tourism, and investment activities, and underscore the Fund’s commitment to supporting impactful, sustainable projects that improve the quality of life in communities.

 

President of the Republic of Maldives, during the ceremony, expressed his sincere appreciation to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the continuous support from the UAE to advance Maldives’ national goals.

 

He said: “ADFD’s financing of Velana International Airport, in partnership with international collaborators, reflects our shared commitment to achieving sustainable development goals and demonstrates a long-term strategic vision for infrastructure development and growth in developing nations. The opening of this airport will further enhance the Maldives’ position in the global aviation sector.”

 

Al Suwaidi highlighted that this collaborative development is a testament to ADFD’s dedication to supporting the sustainable development goals of its partner nations. He reaffirmed the Fund’s mission towards strengthening strategic partnerships between regional development institutions and international organisations, fostering broader and more sustainable developmental impacts.

 

Al Suwaidi said: “Through our partnership with the Government of Maldives and regional development institutions, we have collectively contributed to country’s economic and social growth. Coinciding with the Maldives’ Independence Day celebrations, the inauguration of Velana International Airport underscores our ongoing commitment to ensuring greater resource efficiency and supporting our partner nations to build a resilient economy and prosperous future.” -TradeArabia News Service