India Extends USD 1.4 Billion Aid To Maldives

New Delhi: Prime Minister Narendra Modi on Monday announced USD 1.4 billion financial assistance to Maldives after talks with President Ibrahim Mohamed Solih during which both the nations vowed to deepen security cooperation in the Indian Ocean region.

India and Maldives also signed four pacts, including one on visa facilitation. PM Modi said the security interests of the two countries were intertwined and both sides will work together to further strengthen cooperation in the Indian Ocean region. Modi had attended Solih’s swearing-in ceremony on November 17.

President Solih arrived here on Sunday on a three-day state visit, his first foreign trip after assuming the charge of the top office in the island nation a month ago.

“We held successful talks in a cordial atmosphere. We vowed to strengthen ties,” PM Modi said in his press statement, with Solih by his side.

PM Modi said India is extending USD 1.4 billion as budget support, currency swap and line of credit for the social and economic development of Maldives.

“We want greater trade ties with Maldives. There are increasing opportunities for Indian companies in the island nation,” PM Modi said.

Maldives President Solih said both the sides agreed to strengthen maritime security cooperation in the Indian Ocean region through coordinated patrol and aerial surveillance.

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