On Sunday, India and Maldives have signed an agreement for USD 100 million Line of Credit (LoC) to assist and facilitate ongoing key infrastructure projects in the island nation.
Prime Minister Narendra Modi had announced an offer of a new Government of India Line of Credit of USD 100 million to finance infrastructure projects in the Maldives during the visit of President Ibrahim Mohamed Solih to India in early August, this year.
India-Maldives development partnership has witnessed rapid growth in recent years and covers large infrastructure projects, community-level grant projects, and capacity-building programmes that are based purely on the requirements of the Maldives.
India also handed over a speed launch to the Maldives Correctional Services under Indian grant assistance as Foreign Secretary Vinay Kwatra, currently on a three-day visit to Male, reviewed the entire spectrum of India-Maldives cooperation with his counterpart Ahmed Latheef.
The Foreign Secretary of the Republic of India, H.E. Vinay Mohan Kwatra, called on H.E. President Ibrahim Mohamed Solih this morning at the President’s Office.
President Solih also stated that India has consistently proven to be the closest friend of the Maldives. Before concluding the call, the President conveyed his gratitude to the Indian government for its continued support and assistance to the Maldives.
At the meeting, Kwatra emphasised that the Maldives’ response to the Covid-19 pandemic was exemplary as the country has nearly restored its economy to pre-pandemic levels.
He also stated that the Maldives is one of the most important regional partners and that India would continue to support numerous developmental projects in the Maldives.
President Solih stated that India has consistently proven to be the closest friend of the Maldives and conveyed his gratitude to the Indian government for its continued support and assistance to the country.
