India's Exim Bank Borrowing Hits MVR 22 Billion

In the last five years, India's export and import bank (Exim Bank) borrowing swelled to $1.4 billion (MVR 22 billion).

As per the debt data released by the Finance Ministry, the Maldives has procured six loans from the Exim Bank of India within this five-year span. The most substantial sum was acquired for the Villimalé-Gulhifalhu link construction project, with a loan amount of USD 400 million (MVR 6.1 billion).