India announces $500 mn package for Maldives

2 min read

News: India has announced a slew of connectivity measures for the Maldives in an effort to help Maldives deal with the economic impact of the COVID-19 pandemic.

Facts:

Key Measures:

  • Greater Male Connectivity Project: It is a 6.7 kilometre bridge project connecting Male with Gulhifalhu Port and Thilafushi industrial zone that will help revitalise and transform Maldivian economy.
    • India will provide a $400 million Line of Credit and $100 million grant for the project.
  • Cargo Ferry Service: A regular cargo ferry service between India and Maldives will be started to boost trade and commerce.
  • Air Travel Bubble: India is starting an air connectivity “bubble” for travel with Maldives to sustain and promote the people-to-people ties between the two countries.
  • Submarine Cable: It is a communication cable laid on the sea bed between land-based stations to carry telecommunication signals across stretches of ocean and sea.India will lay down a submarine cable for telecom connectivity in Maldives.