RBI notifies a GOI-backed ₹4,850 crore Line of Credit via Exim Bank to fund developmental projects in the Maldives, enhancing regional economic cooperation.
RBI Notifies ₹4,850 Crore LOC for Maldives Development Projects
The Reserve Bank of India has announced a ₹4,850 crore Line of Credit (LOC) extended through the Export-Import Bank of India (Exim Bank), backed by the Government of India, to finance developmental infrastructure projects in the Maldives.
The LOC, issued under India’s foreign economic cooperation framework, will support sectors including transportation, energy, and urban development. Funds will be disbursed upon project validation and adherence to agreed milestones, with Exim Bank serving as the nodal agency for monitoring and repayment.
This initiative reflects India’s strategic financial diplomacy in the Indian Ocean region. Indian companies may benefit from associated tenders, subject to FEMA compliance and contract reporting norms under ODI and trade regulations.
Citations
- Government of India, Ministry of Finance Press Release, 28 Sept 2026