Saudi Arabia has given around 266 million dollars as loans to Maldives. The interest rate of these loans are between 1.75 and 2 percent. Among all the loans taken by Maldives these loans have the lowest interest rate.
In addition, Saudi Arabia has given a 5 year grace period and a 20-25 year period to repay the loans.
Saudi Arabia gives these loans at such low rates because Maldives is a 100% Muslim country. Also, since Saudi Arabia and Maldives are the only two 100% Islamic countries in the world, the King of Saudi Arabia Salman Bin Abdul Azeez wants Maldives to be as developed as Saudi Arabia.
King Salman, wants to help in all the ways which will benefit the Maldives. He wants the Islamic University of Maldives to be a well-developed university. He wants to build mosques as well. In addition, the King wants to develop the airport and other means that will enable Maldives to develop its economy.
The 10 story Islamic center and the King Salman Mosque to be built in Male’ by the King Salman, will be good signs which will show the Islamic culture of Maldives.
All the tourists who arrive at the Maldives will see the buildings. Those who travel on the China-Maldives Friendship will also be eager to look at these buildings.
It is a duty for Maldivians to show their gratitude to the generous King of Saudi Arabia.
Saudi Arabia gives loans to Maldives at a very low interest rate of 1.75 percent
