A Line of Credit of worth 18 million US dollars has been extended by the Government of India to the Government of Maldives. The Line of Credit has been extended with the primary objective of expanding the fishing facilities at Maldives Industrial Fisheries Company (MIFCO).
The project will promote investment in the fish collection as well as the storage facilities. It also aims to set up a tuna cooked plant and fishmeal plant, as fishing is deeply connected to the Maldivian way of life.
Important takeaways for all competitive exams:
- President of the Maldives: Ibrahim Mohamed Solih.
- Capital of Maldives: Male; Currency of the Maldives: Maldivian Rufiyaa.