India Maldives Trade Agreement

New Delhi [India], Aug 13 (ANI): India announced on Thursday that it will fund the implementation of the Greater Male Connectivity Project (GMCP) aimed at reviving the Maldivian economy through a $400 million line of credit (LOC) and a $100 million grant, linking its capital, Male, to the port of Gulhifalhu and Thizonelafushi industry, and a regular freight service between the two countries to boost trade and commerce. « We are pleased to announce the start of the regular link between India and the Maldives to boost trade and industry. We are also launching an air bubble with the Maldives in order to maintain and promote the dynamic people-to-people relations between the two countries, » Jaishankar said in a tweet during the meeting with Maldives Foreign Minister Abdulla Shahid. India will fund the implementation of the Greater Male Connectivity Project through a LOC and a $100 million grant. The 6.7-km bridge project, which connects Male to Gulhifalhu Port and Thilafushi Industrial Zone, will help revitalize and transform the Maldivian economy, he added. Since President Solih took office in November 2018, our relations with the Maldives have developed. For the past year and a half, President Solih and his government have implemented their « India First » policy with the right seriousness. In line with its `Neighbourhood First` policy, India has worked proactively to deepen its relations with the Maldives, » he said. India`s total financial commitment to the Maldives, which covers all loan and grant projects, far exceeds the $2 billion, all announced after President Solih took power in November 2018, » they said.