Agreement signed with India for US$40 million line of credit

An agreement has been signed with the Indian Export-Import Bank (EXIM Bank) for a US$40 million line of credit for 500 housing units to be built with assistance from the Indian government.

According to the Maldives High Commission in New Delhi, India, the agreement was signed Friday with the High Commission’s Councillor Aishath Azima signing on behalf of the Maldives and Chairman T. C . A Ranganadhan on behalf of the bank.