Categories: Business

Exim Bank to provide USD 400 mn funding for Maldives

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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.