Vaisakhi Offer- Use Code VAISAKHI24

Register Now

EXIM Bank to Grant USD 400 Million to Maldives

Published on February 13, 2021
Current Context: The Export-Import Bank of India (Exim Bank) will provide financial assistance to the Maldives to fund Greater Male Connectivity Project.
EXIM Bank to Grant USD 400 Million to Madives
  • In this regard, the Exim Bank will be providing USD 400 million to the island nation.
  • The announcement for same was made by Reserve Bank of India.
  • The financial assistance will be provided through Line of Credit (LoC), which will be effective from 28th Jan 2021.
  • The terminal utilisation period is 60 months after the scheduled completion date of the project.
  • About Greater Male Connectivity Project: It is 6.7 km largest civilian infrastructure project. The project will offer connectivity of Male with neighbouring islands like Villingili, Gulhifahu and Thilafushi.
  • GOI will provide funds for this project in the Maldives through a USD 400 million lines of credit and USD 100 million grant.
  • Static Part: 
    • HQ of EXIM Bank: Mumbai
    • CEO of EXIM Bank: David Rasquinha
    • Capital of Maldives: Male
    • Currency of Maldives: Maldivian Rufiyaa

Question: 

Q.1 Which organisation to provide USD 400 million to fund the Greater Male Connectivity Project of Maldives?
a. EXIM Bank
b. New Development Bank
c. Asian Development Bank
d. International Bank for Reconstruction and Development
ebook store

About us

ramandeep singh

Ramandeep Singh is a seasoned educator and banking exam expert at BankExamsToday. With a passion for simplifying complex concepts, he has been instrumental in helping numerous aspirants achieve their banking career goals. His expertise and dedication make him a trusted guide in the journey to banking success.

  • Follow me:
Close Menu
Close Menu