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Exim Bank extended LoC to Maldives for Sports Infrastructure

Published on September 05, 2021
Current Context: The Exim Bank has extended line of credit (LOC) to the Maldives with an aim to support financially to develop sports infrastructure in the island nation.
Exim Bank extended LoC to Maldives for Sports Infrastructure
  • In this regard, Exim Bank has offered USD 40 million worth of line of credit (LOC).
  • Uptil now, the Exim Bank has extended five LOCs to the Maldives, on behalf of the GOI, thus making its total value USD 1.33 billion.
  • The funds were used for various purposes like housing projects, Greater Male Connectivity projects, water and sewerage projects, Addu Development projects, International Cricket Stadium projects, road construction, and sports infrastructure.
  • Static Part: 
    • HQ of Exim Bank: Mumbai
    • Capital of Maldives: Male
    • Currency of Maldives: Maldivian rufiyaa

Question: 

Q.1 What amount of LoC was extended by Exim Bank to the Maldives to support development in sports infrastructure?
a. USD 30 million
b. USD 20 million
c. USD 50 million
d. USD 40 million

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