100 bed hospital and cricket stadium to be built by India in Maldives

President Mohamed Ibrahim Solih and Indian Prime Minister Narendra Modi seen taking to each other during President Solih's oath taking ceremony | Photo: Maldives Independent

Hulhumalé, Maldives – Indian High Commission in Maldives announces that a 100 bed cancer hospital and a cricket stadium with the capacity for 22,000 people will be built in Hulhumalé under the USD 800 million line of credit extended to Maldives in March of last year by Exim Bank of India.

In the tweet posted by the embassy’s official Twitter handle, it stated that this project would build on the already close bilateral cooperation in health sector of the Maldives and that it also includes a robust component of human resource development in the field.

In addition to this the tweet also mentions that a modern cricket stadium using the latest technology would be build  in Hulhumalé and that it would have a capacity to seat 22,000 spectators. The tweet also stated that the development of Hulhumale’ Central Park and renovation of the Arrival Jetty would also be funded by the Indian government.

The USD 800 million Line of Credit extended to Maldives include various infrastructural projects throughout the Maldives.

India also gave a USD 250 Million budgetary assistance last month through a soft loan which was arranged through the Maldivian governments Domestic Treasury Bond sold to State Bank of India and it has to be paid back within 10 years with an interest rate of 3.5 percent.

After the current government took office, Indian support through various projects has been seen all around the Maldives and specially during the pandemic. India has also announced a USD 500 million package for the Male’-Thilafushi bridge which is in it’s preliminary stage right now. In addition to this, seven projects through Indian credit lines are to commence as well.

During the pandemic, India has been continuously assisting the Maldivian government in providing necessary food and medicine supplies and has promised to maintain a steady flow of basic necessities. Indian government also sent a team of doctors in March of this year to assist in the Covid-19 preparedness followed by 11.7 tonnes of medicines in April and May.