- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Exim Bank Extends LOC Of $100 Million To Govt of Republic Of Maldives
With the signing of the LOC Agreement, Exim Bank, till date, has extended 6 Lines of Credit to the government of the Republic of Maldives, on behalf of the government of India
Photo Credit :
Export-Import Bank of India (Exim Bank), on behalf of the government of India, has extended a Line of Credit (LOC) of USD 100 million to the government of the Republic of Maldives for the purpose of financing developmental projects.
The LOC Agreement to this effect was signed in Male’, Maldives on Sunday by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Nirmit Ved, General Manager, Exim Bank.
With the signing of the LOC Agreement, Exim Bank, till date, has extended 6 Lines of Credit to the government of the Republic of Maldives, on behalf of the government of India, taking the total value of LOCs to USD 1.43 billion. Projects covered under the LOCs extended to the government of Republic of Maldives include Greater Male’ Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project and Sports Infrastructure.
Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.