India has made advance payments to Maldives to help with the mobilization of new High Impact Grant Projects.
According to the Indian High Commission, MVR 5.49 million has been granted to the Maldives government for the projects.
Both nations signed Memorandums of Understanding (MOUs) in October 2021 for MVR 36.5 million projects to be carried out in seven atolls. The MoU was signed under the Indian financial assistance system for the High Impact Community Development Project (HICDP) through local organizations.
The funds will be used to purchase two sea ambulances, strengthen inclusive education support units in three schools: Gdh. Thinadhoo, L. Gan, and Ha. Dhidhdhoo, develop an ice plant in L. Maabaidhoo, upgrade the Olympus hall, build a multi-purpose council building in N. Miladhoo, build the Dhangethi Cultural Centre, and install street lights in Th. Thimarafushi and Th. Veymandoo.
On March 17, 2019, the Maldives and India signed the MoU on Indian Grant Assistance for the Implementation of High Impact Community Development Projects via local bodies.
Although the agreement was originally signed for MVR 85 million, it was extended on July 23, 2021, with an increase up to MVR 155 million. The Indian High Commission has remarked that these developmental projects are an essential pillar in the India-Maldives friendship.
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