Government of India has announced multiple developmental projects in the Maldives, including a $500 million Greater Malé Connectivity Project (GMCP). External Affairs Minister, S Jaishankar, announced the creation of an air bubble with the Maldives to facilitate the movement of people from both sides for employment, tourism and medical emergencies. The government will support the implementation of GMCP in the Maldives through a financial package consisting of a $100 million grant and a new Line of Credit of $400 million. It will be the largest civilian infrastructure project in the Maldives, connecting Malé with three neighbouring islands - Villingili, Gulhifahu whereby a port is being built under Indian LoC and Thilafushi new industrial zone – by the construction of a bridge-and-causeway link spanning 6.7 km. This project will streamline connectivity between the 4 islands, thereby boosting economic activity, generating employment and promoting holistic urban development. India also announced the commencement of a direct cargo ferry service between India and the Maldives and extension of urgent financial assistance worth $250 million. India will extend in-principle urgent financial assistance to the Maldives by a soft loan arrangement.
📅Published on:
18 August 2020
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