EXIM Bank: Projects will not stop despite change in administration

Afcons conducts pre-casting works on the Thilamale' Bridge in Gulhifalhu. (Photo/Planning Ministry)

Expressing support to be continued in the current fashion, Deputy Managing Director at EXIM Bank of India to ET Infra N. Ramesh says the projects underway in the Maldives, funded by the bank, will not be stopped despite the change in administration.

Ramesh, in an interview to Inda’s Economic Times, emphasizing no changes in the situation have been come across, said the projects funded by the bank in the Maldives remain secure.

“We believe the decisions will be very rational and we are supporting (the) country’s development. I am very optimistic on support to be continued in the current fashion. So, at this point, I don’t have any specific concerns to mention as such,” he said.

India’s EXIM Bank provides financial assistance to projects of neighboring nations including the Maldives. Major projects undertaken in the Maldives with assistance from the bank include Hanimadhoo and Gan airport projects, Thilamale’ bridge project and Gulhifalhu port project. EXIM Bank, for various projects, have facilitated USD 1.4 billion in funds.

President Elect Dr. Mohamed Muizzu has previously stated he will not halt any project underway at Maldivian islands, if they are beneficial to the community and the nation.