The agreement was signed between Nirmit Ved, Managing Director of Exim Bank, and Maldives Finance Minister Ibrahim Ameer. The news of the conclusion of the LOC agreement was shared by a senior Indian entity in the Maldives via an official Twitter account. The funding announcement was made after Jaishankar`s meeting with Maldives Foreign Minister Abdulla Shahid via video conference. The Union minister also announced the commissioning of a regular transport of goods by ferry between the two countries in order to boost trade and commerce. Once the agreement was reached, Shahid thanked the Indians for the partnership in implementing the project and said it would lead to greater possibilities. Pratt & Whitney Canada Customer Service Centre Europe reportedly worked closely together to adapt the agreement for helicopters operated by DanCopter to support offshore oil and gas operations in Nigeria. India and Maldives have entered into a $400 million Line of Credit (LoC) for the implementation of the Greater Male Connectivity Project (GMCP). The Dollar Credit Line Agreement was signed between the Minister of Finance of the Maldives and the Managing Director of EXIM Bank, Nirmit Ved. The Maldives High Commission of India tweeted that the project would be a national economic engine linking Hulhumalé, Hulhule and Malé to the Gulhifalhu and Thilafushi Port Project. The agreement with DanCopter AS is a bespoke agreement that includes overhaul, cable inspection, basic unplanned engine removals, rental support, engine condition trend control, fuel nozzles and other options that meet the customer`s unique requirements, Pratt & Whitney said. Financial details of the deal were not available. Male (Maldives), October 12 (ANI): India and Maldives on Monday completed a US$400 million Line of Credit (LoC) for the implementation of the Greater Male Connectivity Project (GMCP), the island state`s largest connectivity and infrastructure project. India announced in August that it would fund the implementation of the Greater Male Connectivity Project with a $400 million and $100 million LoC grant.
Foreign Minister S Jaishankar said the 6.7-km bridge project linking Male to Gulhifalhu Port and Thilafushi Industrial Zone would contribute to the revival and transformation of the Maldivian economy. “LoC has entered into a $400 million agreement for the implementation of the Greater Male Connectivity Project – the largest connectivity and infrastructure project in the Maldives; A national economic engine that connects Hulhumale, Hulhule & Male and the proposed port of Gulhifalhu & Thilafushi! “Tweeted the Indian High Commission in the Maldives. Maldives Finance Minister Ibrahim Ameer and Nirmit Ved, Managing Director of Exim Bank, signed the agreement today. Finance Ministers @iameeru and Nirmit Ved, Chief Executive of @Indiaeximbankhas today signed a $400 million agreement to fund the Greater Male Connectivity-Male #GMCP Project,” the Maldives Treasury tweeted. Maldives Foreign Minister Abdulla Shahid thanked India for its partnership with the Maldives in the implementation of this project, which will increase opportunities. The Greater Male Connectivity Project will provide more opportunities. It is the gateway to a more developed and economically resilient nation. Thank you for working with the Maldives to provide this project with a $100 million grant and a $400 million line of credit,” Shahid tweeted. ( ANI) Maldives Finance Minister Ibrahim Ameer and Nirmit Ved, Managing Director of Exim Bank, signed the agreement today. Aircraft manufacturer and designer Pratt & Whitney Canada (P&WC) announced on Sunday that it has signed a new agreement on guaranteed maintenance costs with DanCopter AS, a helicopter company in northern Europe, for full maintenance support for its new PT6C-67C engines. .