Loan Agreement Worth 2,900 Crores Signed With Maldives

Loan Agreement worth 2,900 crores signed for Maldives largest connectivity project. India and Maldives signed a loan agreement of around Rs 2,900 crore on Monday for the implementation of the Greater Male Connectivity Project.

This will be the largest connectivity and infrastructure project in the Maldives.

India had announced in August that it would provide around Rs 2,900 crore in debt and about Rs 730 crore in funding to Maldives for the implementation of the Greater Male connectivity project.

Foreign Minister S. Jaishankar said that the 6.7 km long bridge project connecting Male to Gulifalu Port and Thilafushi Industrial Area would help revive the Maldives economy and bring fundamental changes in it.

The agreement to this effect was signed by Maldives Finance Minister Ibrahim Amir and Exim Bank general manager Nirma Veda. The Finance Ministry of Maldives gave this information by tweeting.

Maldives Foreign Minister Abdullah Shahid thanked India for helping in the implementation of this project. He said that this step of India will open new doors of possibilities.

Earlier, the Maldives thanked India for its financial support during the Corona era.

In the 75th session of the United Nations General Assembly, Maldives Foreign Minister Abdullah Shahid said, “I thank all my colleagues, who have generously provided economic, material and technical assistance even during this crisis, even while they themselves are facing challenges.” Were staying.

India has set an example. During this period, India provided assistance of $ 250 million (about Rs 1,842 crore), which is the biggest financial support. He said that the world came to know the importance of global cooperation in the wake of the Corona epidemic.

Without the help of his friends and multilateral allies, the Maldives would have been difficult to deal with.

Explain that the economic situation of the country has been badly affected by this epidemic. The biggest source of income of Maldives is tourism, which has come to a complete standstill.

The financial assistance was formally provided by India at a ceremony held in the capital Male last month at the request of Ibrahim Muhammad Solih, the President of the Maldives, who is struggling with a massive economic crisis.

India was the first to send a team of specialist doctors. Apart from this, 6.2 tonnes of medicines and 580 tonnes of food items were also sent in April