Exim Bank to fund $130 million Maldives project

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Exim Bank to fund $130 million Maldives project
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Tribune News Service
New Delhi, February 26

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India Exim Bank will present funding of $130 million to finance 2,000 Housing models in Maldives.

The Exim Bank had exchanged a Letter of Intent (LoI) with Fahi Dhiriulhan Corporation of Maldives for the design and building of two,000 dwelling models in Hulhumale.

This funding is proposed to be offered underneath the Buyer’s credit score program underneath National Export Insurance Account (NEIA) Scheme. The project is predicted to enhance the socio-economic well-being of Maldivian residents and is in step with the Government’s coverage of ‘Neighbourhood First’.

India Exim Bank had earlier supported highway community improvement in Hulhumale, Maldives underneath the NEIA scheme. Further, it had additionally supported initiatives in water, energy, railway and highway sectors in Ghana, Zambia, Cameroon, Mauritania and Senegal in Africa, Sri Lanka in Asia and Suriname in Latin America underneath the NEIA scheme. The NEIA scheme is a financing mechanism that gives a secure mode of financing possibility to Indian project exporters backed by cowl from NEIA Trust.

 

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