India 18Mn dollar to Maldives

India extends Line of Credit worth 18 million dollars to Maldives

India has extended Line of Credit worth 18 million US dollars to the Government of Maldives for the expansion of fishing facilities at Maldives Industrial Fisheries Company (MIFCO). 

The project envisages investment in fish collection and storage facilities and the setting up of a tuna cooked plant and fishmeal plant.  It is part of the 800 million US dollars line of credit offered by India with repayment tenor of 20 years and a 5-year moratorium. Indian High Commission in Male said fishing is deeply connected to the Maldivian way of life and is a key driver of the economy through exports.

Published by Naresh Sagar

Mentor MSME, Motivator, Media Event Org, Management fiscal & Water management.Social Media branding,Internet broadcasters,Propunder of Indian Philosophy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: