Bank of Maldives and HDC sign MoU to operate City Bike Project in Hulhumalé

City Bike Project by BML and HDC in Hulhumalé | Photo: BML

Malé, Maldives – Bank of Maldives (BML) has signed a Memorandum of Understanding (MOU) with Housing Developing Corporation (HDC) to implement and operate a city bike rental project in Hulhumalé.

According to BML, the project will see 300 rental bikes being introduced to Hulhumale’ which will be available for the general public to rent and ride across the island at a low cost. Multiple docking stations will also be made available in strategic locations to provide adequate parking spaces for the bikes, and the rental system will be equipped with digital payment capabilities. 

We look forward to implementing this project which will be the first of its kind bike rental program available for residents and visitors in Hulhumale’. In addition to being a clean and environmentally friendly means of transport, bicycles are a part of living a healthy lifestyle. It’s also fitting that we are announcing this on World Bicycle Day this year.

Commenting on the project, Bank of Maldives CEO and Managing Director, Timothy Sawyer

Bank of Maldives is funding the project which will be operated in partnership with HDC. 

Bank of Maldives (BML) had carried out various community initiative projects in over 100 islands of the Maldives in 2020. 

BML had stated that the bank continued to implement its CSR projects and initiatives to make a difference in the lives of individuals and communities across the country despite the challenges brought on by the Covid-19 pandemic in 2020. 

According to BML, the bank had invested MVR 1 million to support 20 projects across Maldives which include development of library facilities in various islands, establishment of parks, gyms, nature parks as well as financial support to establish solar powered street lights in islands.