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India's $507 million line of credit to Maldives effective August 27, central bank says
India government-backed 48.50 billion rupees ($506.58 million) line of credit to the Maldives became effective on August 27, 2026, the Reserve Bank of India said on Wednesday, paving the way for individual project-level credit agreements under the facility. The RBI said that the facility will be deployed through individual credit agreements with minimum value of 5 billion rupees each Under the agreement, at least 75% of the value of goods, works and services under contracts financed through the facility must be supplied by sellers from India, while the remaining 25% may be sourced from outside...
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