Last month, India had given a USD 250 million loan to Maldives to mitigate the impact of the COVID-19.
India will build a 100-bedded cancer hospital and a 22,000-seater cricket stadium in Maldives, under the USD 800 million Line of Credit (LoC) that was extended to the country last year, according to the Indian Embassy in Maldives on Wednesday.
"A 100-bed state-of-the-art Cancer Hospital will be set up in Hulhumale under the USD 800 million Line of Credit extended to the Maldives. This project will build on the already close bilateral cooperation in the health sector and include a robust component of human resource dvpt," Indian Embassy here tweeted.
"A modern cricket stadium using the latest technology and a capacity to seat 22,000 spectators will also come up in Hulhumale under the USD 800 million LoC," it said in another tweet.
Indian embassy also said that the development projects in the Hulhumale will benefit both the visitors and residents.
"Honoured to partner with Housing Development Corporation Ltd. Dvpt. of Central Park and renovation of the Arrival Jetty in Hulhumale are grant projects close to our heart. While the Park is the perfect place for leisure and fitness activities, the Jetty will benefit visitors and residents alike," it wrote on Twitter.
A modern cricket stadium using the latest technology & a capacity to seat 22,000 spectators will also come up in #Hulhumalé under the
$ 800 million LoC. (3/3) @hdcmaldives@MoFAmvpic.twitter.com/VspC0FVqIu
On Tuesday, Maldives'' Housing Development Corporation Ltd chairman, Mohamed Jaish Ibrahim, met with High Commissioner of India to the Maldives, Sunjay Sudhir, to discuss prospective opportunities of developments in Hulhumale.
In March 2019, the Exim Bank had extended a USD 800 million LoC to the Maldives for developmental projects in the island nation.
Projects covered under the LoC include several infrastructure development projects.
Last month, India had extended a USD 250 million loan to the Maldives government to mitigate the impact of the COVID-19, in which the State Bank of India will subscribe to a Treasury Bond issued by the Maldives government with a 10-year tenure.