President Mohamed Waheed Hassan Manik has revealed that about USD90 million had been secured for the Maldives during his five day official visit to India. Speaking to the media at the Ibrahim Nasir International Airport (INIA) after arriving in Male last night, President detailed that USD40 million Line of Credit from India’s Exim Bank for the construction of 500 housing units was agreed to be released after the earlier delay.
President also added that USD25 million as Line of Credit and USD25 million as Standby Credit Facility for budget support had also been secured during the visit.
Waheed further revealed that during his visit to Mumbai he had met various prominent Indian businessmen including Chairman of Reliance Industries Mukesh Ambani and the TATA Group.
During the meeting with Reliance, discussions had been held with regard to the establishment of an IT Park in the Maldives in a bid to enhance employment opportunities for the Maldivian youth, President said.
In addition, discussions with TATA entailed the delay in the construction of the housing units in the capital Male by the Group, Waheed added.
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