On July 28, 2020, the Financial Assistance for High Impact Community Development Projects (HICDP) from the Government of India was handed over to the Government of Maldives in the form of a symbolic cheque of USD 5.6 million. The cheque was handed over by the High Commissioner of India to the Maldives Sunjay Sudhir to the Minister of Foreign Affairs Abdulla Shahid. In this regard, Government of Maldives launched nine community-based development projects which are as follows:
- Neighbourhood Fish Processing Plant (Geydoshu Mas Plant) development in three districts in Addu City: Hithadhoo, Maradhoo and Hulhudhoo-Meedhoo; Tourism Zones Development in five districts in Addu City: Hithadhoo, Maradhoo, Feydhoo, Hulhudhoo and Meedhoo; and a bottled water plant setup in Hoarafushi. Read India, Maldives signed contract for development of Geydoshu Mas Plant in Maldives’ Maradhoo and Hulhudhoo
- Addu City Council is the Implementing Agency for the fish-processing plants and eco-tourism projects. The Hoarafushi Council will direct the process for setting up of a bottled-water plant in Hoarafushi.
In March 2019, India and the Maldives signing a bilateral pact on HICDPs with a total grant of $ 5.6 million was announced. This was in addition to a cash grant of about $ 7 million for the execution of small projects.
Other Supports from India to Maldives:
India extended USD 1.4 billion as budgetary support to the Maldivian government at their request. USD 400 currency swap scheme under a South Asian regional framework was also announced for Maldives to aid a loss of tourist revenue due to the covid-19 pandemic.
Currency– Maldivian rufiyaa
President– Ibrahim Mohamed Solih