Current Affairs 20th January 2022
India - Mauritius
What’s the NEWS
Prime Minister of India and Prime Minister of Mauritius jointly inaugurated the India-assisted Social Housing Units project in Mauritius virtually on 20 January, 2022
The two dignitaries also launch the Civil Service College and 8MW Solar PV Farm projects in Mauritius that are being undertaken under India’s development support.
An Agreement on extending a US$ 190 mn Line of Credit (LoC) from India to Mauritius for the Metro Express Project and other infrastructure projects; and MoU on the implementation of Small
Development Projects were exchanged.
In September 2021, Maldives state-owned Fahi Dhiriulhun Corporation signed loan agreements with India’s state-owned National Buildings Construction Company (NBCC) and JMC Projects (India) Ltd, to develop 4,000 social housing units in Hulhulmalé (phase 2) island.
India’s state owned Exim Bank extended buyer’s credit of approximately $228 million for the construction of these housing units.
The signing of this agreement comes weeks after the Maldives government officially inked a deal with Mumbai-based company AFCONS, for the construction of the Greater Malé Connectivity Project (GMCP), a $500-million infrastructure project which is the largest-ever by India in the Maldives.
India has been making significant investments in various development projects in the archipelagic state.
Social housing
It is an important requirement in the Maldives because in addition to housing shortage, high rent prices are a major challenge for ordinary people in the country.
The construction of flats for social housing was initiated by the Mauritius government in 1990 with financial assistance from China.
In its National Housing Policy of 2008, the Maldives government stated that the policy would prioritise ensuring “a decent home for every household in the country
India’s financial assistance to the Maldives, including loans and grants for various infrastructure and development projects, exceeded $2 billion, in line with its ‘Neighbourhood First’ policy to strengthen ties with Malé.