The Government of India has provided a USD 40 million Line of Credit for sports infrastructure development in the Maldives.
The agreement was signed by the Minister of Finance Ibrahim Ameer and General Manager of EXIM Bank of India Nirmit Ved. The Government of the Maldives plans to use the credit line exclusively for the construction of a variety of stadiums and sports complexes across the country that cater to football, athletics, badminton, tennis, table tennis, and a range of indoor sports.
Moreover, the funds are also meant to help prepare the Maldives for hosting the Indian Ocean Island Games (IOIG). The credit line was initially offered during the visit of External Affairs Minister Dr. S Jaishankar to the Maldives in February this year.
Additionally, India and the Maldives signed a Memorandum of Understanding (MoU) on cooperation in sports and youth affairs in November 2020 to provide an institutional framework for India's ongoing cooperation in the field of sports. The Indian government said the development of sports is an important element of its developmental assistance to the Maldives and that a USD 13 million grant assistance is being used to establish outdoor gyms across 61 islands in the Maldives.
In addition, the running track in Male' City was also developed under the grant and opened in January this year. The Indian government stated it is also willing to provide training in a variety of sports that are popular among Maldivians and support the further development of sports in the Maldives.