Indian High Commission in Maldives has stated that the Indian government had provided MVR5 billion worth of aid to the Maldives during the past three years.
The statistics revealed to the media by the commission indicated that the projects undertaken by the government from 2009 had been granted USD 53.45 million dollars (MVR825 million). In addition, line of credit facilities, bond purchase, standby credit facility and items, equipment and financial assistance worth USD268 million (MVR4.5 billion) was provided to hold the SAARC summit in Addu according to the statistics, which is a total of USD321.5 million (MVR5 billion).
The largest contribution from India within the last three years was to the project of the construction of Faculty of Tourism and Hospitality building. USD2.5 million was granted as free assistance of the Indian government. In addition, USD4.5 million to the development of Indhira Gandhi Memorial Hospital (IGMH), USD25 million to Police Academy, USD9 million to purchase vehicles for police, USD1.15 million to Coastal Management Centre, USD1 million for the purchase of sports equipment and drugs, USD5.3 million to Institute for Information Technology. India had also agreed to assist with the military hospital established by the Maldives National Defence Force (MNDF).
USD40 million credit facilities were granted for the project of building 500 housing units within the three years. Statistics also show that USD100 million to purchase Treasury bonds from the State Bank of India (SBI) and USD100 million as standby credit had been given.
The High Commission also informed that the Indian government had provided USD28 million to assist in the development of human resources and also as financial assistance in holding the SAARC summit at Addu.
Apart from this, private Indian companies had invested in major projects throughout the Maldives.