Male, Maldives (CU)_ The Reserve Bank of India announced on Thursday that the Export-Import Bank of India – Exim Bank – will provide USD 400 million to Maldives to finance the Greater Male Connectivity Project. The 6.7 Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in Maldives, linking Male to three neighboring Islands of Villilgili, Gulhifahu and Thilafushi.
The RBI stated that on October 12, 2020, Exim Bank made an agreement with the Maldives government that the Government of India will support and fund a USD 400 million Line of Credit (LoC) for the Greater Male Connectivity (Male to Thilafushi Link) project in the Maldives. The LoC agreement is valid as of 28 January 2021. It added that the terminal usage duration is 60 months after the project’s scheduled completion date.
The largest civil infrastructure project in the Maldives will be the 6.7 km Greater Male Connectivity Project (GMCP) which links Male with the three neighboring islands – Villingili, Gulhifahu and Thilafushi. S Jaishankar, External Affairs Minister also announced in August 2020 that India will finance the implementation of the major connectivity projects in Maldives with a credit line of USD 400 million and a grant of USD 100 million. In 2020, India has also funded many other infrastructure projects in Maldives.
