India announces $500 million connectivity project, cargo service to boost trade ties with Maldives
India has said that it will fund the implementation of the Greater Male Connectivity Project (GMCP) to revitalize the Maldivian economy through a $400 million Line of Credit (LOC) and $100 million grant linking its capital Male with Gulhifalhu Port and Thilafushi industrial zone.A new cargo ferry service will also be launched between the two countries, which will help India replace other countries to become the Maldives’ top trade partner. The measures were announced during a virtual meeting between external affairs minister S Jaishankar and his Maldives counterpart Abdulla Shahid.“Happy to announce the start of regular cargo ferry service between India & Maldives to boost trade and commerce. We are also starting an air travel bubble with Maldives to sustain and promote the dynamic peo...