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:
On February 1, 2026. In a gripping men's singles final at the Australian Open 2026,…
The Union Budget 2026-27, presented by Nirmala Sitharaman on 1 February 2026, marks a decisive…
Preparing for Banking, SSC, RBI, NABARD, and other competitive exams requires a strong grasp of…
The Union Budget 2026 has delivered one of the strongest signals yet of India’s changing…
Union Budget 2026-27 has placed sports firmly within India’s growth and employment strategy. While presenting…
The Union Budget 2026-27 has placed healthcare at the centre of India’s development agenda. With…