India will finance Greater Male Connectivity Project through USD 400 mn Line of Credit

External Affairs Minister of India has announced that India will fund the implementation of Greater Male Connectivity Project through a 400 million dollar Line of Credit and 100 million dollar grant.

Daily Current Affairs Quiz 2020

Key-Points

This 6.7 kilometre bridge project connecting Male with Gulhifalhu Port and Thilafushi industrial zone will help revitalise and transform Maldivian economy.

The GMCP Project will include the construction of a bridge and causeway link spanning 6.7 km.

External Affairs Minister also announced a start of regular cargo ferry service between India and Maldives for boosting trade and commerce between the two countries.

There will also be an air travel bubble with the Maldives to promote and sustain the dynamic people-to-people ties between India and Maldives.

India has also decided to extend the financial support for the construction of a port in Gulhifahu.