Daily Current Affairs

Exim Bank to provide USD 400 mn funding for Greater Male Connectivity Project in Maldives

Current GK (IBPS RRB-PO) Exim Policy

The Export-Import Bank of India (Exim Bank) will provide USD 400 million to Maldives through Line of Credit (LoC) to fund Greater Male Connectivity Project.
The agreement under the LoC will be effective from January 28, 2021.
The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in 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 Maldives through a USD 400 million line of credit and USD 100 million grant.