India & Maldives launches the contract for Greater Male Connectivity Project

India & Maldives launches the contract for Greater Male Connectivity Project

Greater Male Connectivity Projects: Indian Prime Minister Narendra Modi and Maldivian President Ibrahim Mohamed Solih recently launched the contract for the mega Greater Male Connectivity project (GMCP).

Key Highlights:

  • The Maldivian President Ibrahim Mohamed Solih is on a three-day state visit, his first foreign trip after assuming charge of the top office in the island nation a month ago.
  • His visit to India will provide an opportunity for the two leaders to review the progress made in this wide-ranging partnership and lend further momentum to it.
  • Both countries also entered pacts in areas like cyber security, disaster management, and police infrastructure development.
  • PM Modi also said that India will also assist the Maldives in achieving its target of net zero carbon emissions by 2030.
  • The Maldivian president also invited Indian investors to explore the opportunities in his country and forge a mutually beneficial partnership.

Male connectivity projects:

  • The GMCP is the largest-ever civilian infrastructure project in the Maldives.
  • Under the GMCP project, a 6.74 km long bridge and causeway link will be built to connect the capital city Male with adjoining islands namely: Villingili, Gulhifahu and Thilafushi.
  • It will be built under India’s USD 100 million grant and USD 400 million line of Credit (LoC).
  • India also extended a USD 100 million line of credit for development projects in the Maldives.
  • The USD 400 million LoC will be provided by the Export-Import Bank of India (Exim Bank).
  • The project will be developed by Indian construction and engineering firm, AFCONS, based in Mumbai, Maharashtra.

India and the Maldives Relations:

  • Maldives is India’s key neighbour in the Indian Ocean Region and occupies a special place in India’s Neighbourhood First Policy.
  • India was among the first to recognise Maldives after its independence in 1965 and to establish diplomatic relations with the country.
  • In recent years, the partnership has witnessed rapid growth in all areas of cooperation.

About Maldives:

  • The Maldives, officially the Republic of Maldives, is a small island nation in South Asia.
  • It is situated in the Arabian Sea of the Indian Ocean.
  • It lies southwest of Sri Lanka and India.
  • The Capital of Maldives is Male.
  • The Currency of the Maldives is Maldivian Rufiyaa.
  • The current President of the Maldives is Ibrahim Mohamed Solih.

The USD 400 million LoC to Maldives will be provided by which bank?
A) HDFC Bank
B) World Bank
C) Export-Import Bank of India (Exim Bank)
D) State Bank of India