India to build 100-bedded cancer hospital & 22,000-seater cricket stadium in Maldives

India on Wednesday anunced that it will build a 100-bedded cancer hospital and a 22,000-seater cricket stadium in Hulhumale, Maldives. two projects will be built using  USD 800 million Line of Credit (LoC) that was extended to country last year,  Indian Embassy in Maldives informed.

"A 100-bed state-of--art Cancer Hospital will be set up in Hulhumale under USD 800 million Line of Credit extended to Maldives. This project will build on already close bilateral cooperation in health sector and include a robust component of human resource dvpt," Indian Embassy in Maldives said in its tweet.

Furrmore, modern cricket stadium using latest techlogy and a capacity to seat 22,000 spectators will also come up in Hulhumale under USD 800 million LoC, embassy said in ar tweet.  Projects covered under LoC include several infrastructure development projects.

Last month, India had extended a USD 250 million loan to Maldives government to mitigate impact of COVID-19, in which State Bank of India will subscribe to a Treasury Bond issued by Maldives government with a 10-year tenure.

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Development projects to benefit visitors and residents

Indian embassy also said that development projects in Hulhumale will benefit both visitors and residents.

"Houred to partner with Housing Development Corporation Ltd. Dvpt. of Central Park and revation of Arrival Jetty in Hulhumale are grant projects close to our heart. While Park is perfect place for leisure and fitness activities, Jetty will benefit visitors and residents alike," it wrote on Twitter.

Maldives' Housing Development Corporation Ltd chairman, Mohamed Jaish Ibrahim, met with High Commissioner of India to Maldives, Sunjay Sudhir, on Tuesday, to discuss prospective opportunities for developments in Hulhumale. In March 2019, Exim Bank had extended a USD 800 million LoC to Maldives for developmental projects in island nation.

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Maldives Thanks India For $250 Million Support 

Maldives on Tuesday has thanked India for financial assistance of USD 250 million ' single largest financial assistance from a dor'  to support island nation amid COVID-19 pandemic.

" pandemic has also highlighted importance of global cooperation. In Maldives, without support of our friends, our bilateral and multilateral partners, we would t be able to continue wearing this storm, Minister of Foreign Affairs of Maldives Abdulla Shahid said in his address to General Debate of 75th Session of United Nations General Assembly.

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(With inputs from ANI)