IndianEra > Business > India announces USD 500 million infrastructure projects with the Maldives

As the Modi government focuses on connectivity, it announced a new project known as Greater Male Connectivity Project (GMCP) in Maldives worth USD 500 million. It has been termed as the largest infrastructure project in the country.

In another statement, the Indian government announced that it would offer implementation of GMCP in the Maldives via a financial package comprising USD 100 million and new credit of USD 400 million.

Launching an Air Bubble with the Maldives

Minister Jaishankar

Along with this, External Affairs Minister S Jaishankar also announced a project related to an air bubble with the Maldives to facilitate a two-way movement for people concerning jobs, healthcare emergencies, and tourism.

Through this air bubble, India aims to support the tourism industry in Male.

As per Jaishankar, this project would be the largest infrastructure project in the Maldives, which connects Male with the nearby island, i.e., Villingili, Gulhifahu, and Thilafushi through a bridge-and-causeway link of 6.7 km.

Financial commitment to Male

President Solih

India has also announced a cargo ferry service between India and the Maldives alongside financial assistance worth USD 250 million due to the Covid-19 situation.

As per a source, “In the last one and a half years, President Solih and his Government have acted on its ‘India First’ policy in right earnest. In line with its ‘Neighbourhood First’ policy, India has worked pro-actively to deepen its ties with the Maldives, said a source.”

Currently, India has offered financial support of USD 2 billion to the Maldives after Solih has come into ruling.

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Posted by IndianEra, 15/08/2020