Maldivian Red Crescent partners with First National Finance Corporation to lead financing and development of MRC land in Hulhumale’

This partnership launches the Maldives first-ever blended finance initiative, bringing together philanthropic, public, and private capital, establishing a sustainable model for partnerships that combine social impact with financial innovation, advancing both community resilience and capital market development.

For MRC, this collaboration represents far more than the construction of a physical space,  it signifies a major step in strengthening the organisation’s foundation for the future. Establishing a dedicated headquarters in Hulhumalé will enhance MRC’s capacity to coordinate and deliver humanitarian services, support the expansion of its programmes, and ensure long-term sustainability.

Speaking at the signing ceremony, President of the Maldivian Red Crescent, Ali Nashid, reflected on the significance of this step for the organization’s future:

“Today marks a truly significant milestone for the Maldivian Red Crescent, one that brings us closer to realizing a long-standing vision.

By establishing a permanent home for our National Society, we strengthen our position as the leading humanitarian organization in the country. This dedicated space enhances our ability to coordinate, respond, and reach those in need, enabling us to grow our capacity, expand our reach, and continue delivering on our humanitarian mandate with greater impact.”

Speaking at the signing ceremony, Mr. Hassan Ziyath, CEO of First National, described the collaboration as a “turning point” in the Maldives’ development finance landscape.

“This engagement is not just a responsibility, it is a privilege,” said Mr. Ziyath. “We carry this role with immense pride, knowing that our efforts will directly strengthen the humanitarian backbone of our nation.”

Through this partnership, First National will lead financing, project management, and long-term stewardship of the development, while MRC ensures that the project’s outcomes remain deeply rooted in community needs and humanitarian purpose. The collaboration demonstrates how strategic use of financial tools can strengthen the social fabric — enabling MRC to deliver on its mission in more innovative and self-sustaining ways.

The signing ceremony was attended by representatives from the Capital Market Development Authority, Maldives Stock Exchange, embassies, and financial institutions, reflecting broad support for the country’s evolving capital market ecosystem.