Foreign Miniter Abdulla Shahid and the Indian Minister of External Affairs, Dr. Subrahmanyam Jaishankar has discussed seven major development projects set to begin through the USD 800 million Line of Credit was announced during the State Visit of President Ibrahim Mohamed Solih to India in December 2018, for which the Agreement was signed between the Indian Export Import Bank and the Ministry of Finance in March 2019.

Under the Line of Credit, loans will be provided by India's Exim Bank for projects submitted by the government of Maldives. These loans also have a five year grace period and a 15 year repayment period. The interest rate for these loans are 1.75%.

The Foreign Ministry stated that during the call between Minister Shahid and Minister Jaishankar, discussions were conducted regarding seven major projects which were being considered to run under the credit line. As such, they said that both Ministers also agreed on the significance of these projects and the speed at which they should progress.

The seven major projects to be run under the credit line are:

1. Establishment of Water & Sewerage Systems in 34 islands

2. Road development and Land Reclamation in Addu

3. Development of a Cricket Stadium in Hulhumale'

4. International Port Development Project

5. Development of a 100-bed cancer hospital in Hulhumale'

6. Development of Mifco facility at Gemanafushi and Felivaru

7. Development of Hanimaadhoo Airport

Director of Communications at the Foreign Ministry, Miuvan Mohamed revealed to "One" that works on all seven projects have already begun. He added that field work of projects like the water & sewerage development, Addu development and cricket stadium will begin this year.

The Ministry further noted that discussions also revolved around free aid grants in the second phase of the High Impact Community Development Scheme as well.

During the first phase of the program, a cash grant of MVR 106 million was provided by the Government of India. Nineteen projects in 74 inhabited islands, in eighteen atolls, have been approved for financing under the cash grant, and nine projects are being implemented under the High Impact Community Development Scheme.