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Connectivity brings prosperity: Importance of the India funded infra project in Maldives

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New Delhi, Aug 14: India has announced several developmental projects in Maldives, with includes a 500 million USD Greater Male Connectivity Project. This would be the largest ever infrastructure project in the country.

Following a meeting of External Affairs minister, S Jaishankar and his counterpart Abdulla Shahid, the creation of an air bubble with Maldvies to facilitate movement people from both sides for employment, tourism, medical emergencies was announced.

Connectivity brings prosperity: Importance of the India funded infra project in Maldives

In a statement, India said that it would support the implementation of this project through a financial package consisting of a grant of 100 million USD and a new Line of Credit of 400 million USD.

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"Once completed, this landmark project will streamline connectivity between the 4 islands, thereby boosting economic activity, generating employment and promoting holistic urban development in the Malé region," the government said.

India also announced the commencement of a direct cargo ferry service between India and Maldives and extension of urgent financial assistance worth 250 million USD, in the wake of the financial challenge owing to COVID-19.

India had decided to extend in-principle urgent financial assistance to Maldives by ways of a soft loan arrangement. The modalities of the same are being finalised by both sides, India also said.

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    India will fund the implementation of Greater Male Connectivity Project through a $400 mn LOC & $100 mn grant. This 6.7 km bridge project connecting Male with Gulhifalhu Port & Thilafushi industrial zone will help revitalise and transform Maldivian economy, Jaishankar said in a tweet.

    Happy to announce the start of regular cargo ferry service between India & Maldives to boost trade & commerce. We're also starting an air travel bubble with Maldives to sustain & promote the dynamic people-to-people ties between the two countries, the minister also said.

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