Indian government will provide assistance worth $90m: President Waheed

President Dr Mohamed Waheed Hassan Manik told reporters tonight at Ibrahim Nasir International Airport, after his five-day visit to India, that his visit was successful, and that it had resulted in the $40m promised by India’s Exim bank being facilitated, as well as the Indian government agreeing to grant $25m as LC, and $25m as budget support.

“The Indian government has agreed to assist in ways that are very heartening to us. The $40m from India’s Exim bank is settled. They also agreed to provide $25m LC and $25m as standby credit budget support,” the President said.

The President said that during his visit to India’s business centre Mumbai, he met with Tata Group to resolve certain issues in order to recommence the flat construction project, which had come to a halt. Discussions were also held with Taj Group to increase the number of Indian tourists arriving in Maldives.

In addition, he met with Reliance to increase opportunities for youth, and exchanged ideas about the establishment of an IT park or IT industry in Maldives to increase job opportunities for youth.

“Discussions with Reliance were mainly based on ways to increase job opportunities for young people, to establish an IT park or IT industry to create more work in the Maldives,” the President said.