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India Inks Six Pacts With Maldives To Broad-Base Ties, Announces $100 Million Line Of Credit

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India and Maldives today signed six agreements to expand cooperation in multiple key areas. Indian Prime Minister Narendra Modi asserted that New Delhi has been and will continue to be the “first responder” to any need or crisis facing the island nation.

Indian PM Modi announced a Line of Credit of $100 million for Maldives to complete development projects in a time-bound manner. This came after he held wide-ranging talks with visiting Maldivian President Ibrahim Mohamed Solih.

“We also reviewed projects for the construction of 4000 social housing units in Greater Male today. I am happy to announce that we will additionally provide financial support for 2,000 social housing units,” Indian PM Modi said in his media statement.

“We have also decided to provide an additional line of credit of USD 100 million so that all projects can be completed in a time-bound manner,” he added.

The Indian Prime Minister pointed out that trans-national crime, terrorism and drug trafficking are real and serious threats in the Indian Ocean and close India-Maldives ties were vital for peace in the entire region.

Indian PM Modi said the India-Maldives partnership is not only working in the interest of citizens of both countries, but it is also becoming a source of peace and stability for the entire region. He added that India has been and will continue to be the first responder to any need or crisis of Maldives.

Capacity building, cyber security, housing, disaster management and infrastructure development in the Maldives will be facilitated by the six new agreements between the two sides.

“In the last few years, there has been renewed vigour in the friendly ties between India and Maldives. Our closeness has increased,” Indian PM Modi said.

Maldives President Ibrahim Mohamed Solih said that both sides reiterated their firm commitment to deal with the threat of terrorism adding that, “Maldives will remain a true friend of India…Our relations with India will always be of highest priority.”

Maldives President Ibrahim Solih on Monday began a four-day visit to India. The visit is aimed at shoring up strategic and business relations between the two partner countries who enjoy very close relations. Solih also met Indian External Affairs Minister Dr S Jaishankar at Hyderabad House in Delhi on Monday.

S Jaishankar, tweeted after their talks: “Our Neighbourhood First and Maldives’ India First policies are complementary. They take our special partnership forward.”

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