Agreement between India and Maldives in areas of sustainable urban development | Best Defence Coaching

Agreement between India and Maldives in areas of sustainable urban development

Maldives Foreign Minister Abdullah Shahid informed on 20 February 2021 that, India and Maldives have signed several agreements in the field of sustainable urban development and public broadcasting.

Foreign Minister S. These agreements were signed between the two nations during Jaishankar’s visit to the Maldives. These five agreements will help in increasing the infrastructure in this island nation.

A letter of intent has been signed between Exim Bank of India and Fahi Dhiriulhun Corporation for 2,000 social housing units. Additionally, it shows the increasing interest of Indian investors in the Maldives.

A Memorandum of Understanding has been signed between India and Maldives to set up a Gidhoshu Mass plant at Nunu Kendrikulhudhu. This agreement will allocate Indian grant assistance under the High Impact Community Development Project Scheme for further development of small scale fish processing plants in the Maldives.

The Exim Bank of India and the Maldives government also signed the Second Amendment Dollar Credit Line Agreement. It is a much-awaited investment in the Maldives, which will re-purpose the outstanding US $ 40 million line of credit for the year 2011 for the development of roads across the island.