A team from the EXIM Bank of India on Monday signed a Line of Credit Agreement for USD 400 million to fund the Greater Male Connectivity Project (GMCP).
A statement from the Indian High Commission in Male recalled that India’s support for the project was announced during the virtual meeting between External Affairs Minister Dr S Jaishankar and Foreign Minister Abdulla Shahid on August 13. This will be the single-largest infrastructure project in the Maldives and will link Male with Villingili, Gulhifalhu, and Thilafushi islands.
The agreement today was signed between Exim Bank and the Maldives Ministry of Finance. The Government of India has separately committed USD 100 million grant for the project.
