Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 40 millionto the Government of the Republic of Maldives for the purpose of financing for development of sports infrastructure.The LOC Agreement to this effect was signed in Male’, Maldives on Thursday, September 2, 2021by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank.

With the signing of the above LOC Agreement, Exim Bank, till date, has extended 5 (Five) 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 1.33 billion. Projects covered under the LOCs extended to the Government of Republic of Maldives include Housing project, Greater Male’ Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket StadiumProject, Defence projects,Gulhifalhu Port Project, Hanimaadhoo Airport Project, Road Construction Project and Sports Infrastructure.

With the signing of this LOC Agreement, Exim Bank has now in place 276Lines of Credit, covering 62 countries in Africa, Asia, Latin America Oceaniaand the CIS, with credit commitments of around USD 27.02 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact Mr. Gaurav Singh Bhandari, Chief General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank signing the Lines of Credit Agreement of USD 40 millionfor development of sports infrastructure in Maldives.