Exim Bank to provide USD 400 mn funding for Greater Male Connectivity Project in Maldives
- The Export-Import Bank of India (Exim Bank) will provide USD 400 million to Maldives through Line of Credit (LoC) to fund Greater Male Connectivity Project.
- The agreement under the LoC will be effective from January 28, 2021.
- The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in Maldives, connecting Male with three neighbouring islands – Villingili, Gulhifahu and Thilafushi.
- The Government of India will be funding the implementation of a major connectivity project in Maldives through a USD 400 million line of credit and USD 100 million grant.
Source: Economic Times