The Export-Import Bank of India (Exim Bank) will provide USD 400 million to the Maldives through Line of Credit (LoC) to fund the Greater Male Connectivity Project. The agreement under the LoC will be effective from January 28, 2021.
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The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in the 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 the Maldives through a USD 400 million lines of credit and USD 100 million grant.
Important takeaways for all competitive exams:
- Export-Import Bank of India CEO: David Rasquinha.
- Export-Import Bank of India Founded: 1 January 1982.
- Export-Import Bank of India Headquarters: Mumbai, Maharashtra.
- President of the Maldives: Ibrahim Mohamed Solih.
- Capital of Maldives: Male; Currency of the Maldives: Maldivian Rufiyaa.