India provided 18 mn US dollars Line of Credit to Maldives country

India provided 18 mn US dollars Line of Credit

Indian Govt has extended Line of Credit (LoC) worth of almost 18 million US Dollars to Maldives Country. this amount will be used for the expansion of fishing facilities at Maldives Industrial Fisheries Company (MIFCO) and will also be helpful to install a tuna cooked plant and fishmeal plant. India’s Export-Import Bank (EXIM) has signed on an agreement with Maldivian Finance minister Ibrahim Ameer.

In addition, the Line of Credit will be utilized to build a 50-tonne ice plant in Gemanafushi, Gaafu Dhaalu Atoll and a 100-tonne ice storage facility.

Static Gk Maldives –

Capital– Male
Currency– Maldivian rufiyaa
Vice President – Faisal Naseem
President– Ibrahim Mohamed Solih

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