The government has approved MVR 909 million in housing loans under the Hiyavahi Finance Scheme, benefiting 768 applicants.
The Housing Ministry said the approved loans include low-income and low-equity housing financing. Of the total approvals, 410 were for flats, 343 for housing units, and 15 under other categories.
Under the scheme, applicants can access loans of up to MVR 3 million in the atolls and urban centres, while borrowers in the Malé region can receive up to MVR 6 million.
Launched by President Dr. Mohamed Muizzu, the Hiyavahi Finance Scheme offers housing loans at a 5 percent interest rate, repayable over 25 years, to support affordable housing nationwide.
