EXIM BANK EXTENDS LINE OF CREDIT OF USD 100 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF MALDIVES

H.E. Ibrahim Ameer, Minister of Finance, Government of the Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank signing the Line of Credit (LOC) Agreement of USD 100 millionfor financing developmental Projects in Maldives.

H.E. Ibrahim Ameer, Minister of Finance, Government of the Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank, exchangingthe LOC Agreement of USD 100 millionfor financing developmental Projects in Maldives,at a ceremony organised by the Ministry of Foreign Affairs, Government of the Republic of Maldives, in presence of Shri Vinay Mohan Kwatra, Foreign Secretary of India and Shri Ahmed Latheef, Foreign Secretary of the Republic of Maldives.

Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 100 millionto 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, October 02, 2022by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank.The LOC Agreement was exchanged at a ceremony organised by the Ministry of Foreign Affairs, Government of the Republic of Maldives,in presence of Shri Vinay Mohan Kwatra, Foreign Secretary of India and Shri Ahmed Latheef, Foreign Secretary of the Republic of Maldives. 

With the signing of the above LOC Agreement, Exim Bank, till date, has extended 6 (Six) 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 StadiumProject, Defence projects,Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project and Sports Infrastructure.

For further information, please contact
Mr. Nirmit Ved, 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