India Exim Bank to provide funding of USD 130 million to finance 2000 Housing units in Maldives

Export-Import Bank of India (India Exim Bank) on February 20, 2021 exchanged a Letter of Intent (LoI) with Fahi Dhiriulhan Corporation Ltd., Govt. of Maldives for the design and construction of 2000 Social Housing Units in Hulhumale, Maldives valued at USD 130 mn. This funding is proposed to be provided under the Buyer’s credit program under National Export Insurance Account (NEIA) Scheme. The project is expected to improve the socio-economic well-being of Maldivian citizens and is in line with the Government of India policy of ‘Neighbourhood First’. The LoI was exchanged in Male’ city, as part of India’s External Affairs Minister, Dr. Subrahmanyam Jaishankar’s visit to Maldives. The project is proposed to be executed by NBCC (India) Ltd.

India Exim Bank had earlier supported Road network development in Hulhumale, Maldives under the NEIA scheme. Further, India Exim Bank has also supported various projects in water, power, railway and road sectors in various countries viz. Ghana, Zambia, Cameroon, Mauritania and Senegal in Africa, Sri Lanka in Asia and Suriname in Latin America under the NEIA scheme. The NEIA scheme is a unique financing mechanism that provides a safe mode of financing option to Indian Project Exporters backed by cover from NEIA Trust.

For further information, please contact Ms. Shilpa Waghmare, General Manager, BC-NEIA Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005. Telephone +91-22-22172320; E-mail: Shilpa.w@eximbankindia.in