Minister of Housing and Infrastructure Dr. Mohamed Muizzu has stated the pledge by the opposition coalition to decrease the interest rates of housing loans has been initiated by the current administration.
In a tweet, the housing minister noted the pledge by Maldivian Democratic Party (MDP) to decrease housing loans is already implemented by the government, from 2017 onwards, following a special procedure. In addition, Minister Muizzu revealed 120 loans have been so far issued under the regulation and 54 loans have been guaranteed by Maldives Monetary Authority (MMA). Noting the interest rate of the loans is 5-6%, the minister said the equity of the loans is 5%.
The opposition candidate has faced several criticisms for pledging projects and initiations that are already implemented by the government.