The Export-Import Bank of India (Exim Bank) on behalf of the Government of India has extended a Line of Credit (LoC) of USD 400 million (about Rs 2,932 crore) to the Maldives.
The soft loan will be used for financing the Greater Male Connectivity Project (GMCP) in the Maldives, which is the single-largest connectivity and infrastructure project in the island nation. LoCs or soft loans are concessional loans that are offered at cheap rates. The soft loans to the Maldives have funded connectivity, water, sewerage projects, Addu Development Project, an international cricket stadium, Gulhifalhu port, Hanimaadhoo airport and road construction work.
Important takeaways for all competitive exams:
World Basketball Day 2025 highlights the remarkable journey of basketball from a simple indoor game…
The United Nations marked the second World Meditation Day on the 21st December with a…
The Winter Solstice 2025 occurs on Sunday, December 21 marking the shortest day and longest…
The Haryana State Assembly has unanimously passed a resolution to mark the 350th martyrdom year…
Every country has something special that makes it famous around the world. Some are known…
The United States and Jordan have carried out a major military operation in Syria called…