Letter of Intent Exchanged with India’s Exim Bank to Finance 2,000 Housing Units in Hulhumale’

The Letter of Intent has been exchanged between India’s Exim Bank and Fahi Dhiriulhun Corporation Limited to finance the design and construction of 2,000 social housing units in Hulhumale’.

The project will be carried out with a loan of USD 130 million from Exim Bank, for which the Maldives will be issuing a sovereign guarantee.

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The Letter of Intent was exchanged in Male’ on Saturday evening, as part of Indian External Affairs Minister Dr. S. Subrahmanyam Jaishankar’s ongoing visit to the Maldives.

Earlier this February, Fahi Dhiriulhun Corporation signed a procurement and construction contract with NBCC (India) Limited for the construction of 2,000 housing units.

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