India offers additional USD 100 million Line of Credit to Maldives; PM Modi says “our closeness has grown”
2 August, 2022 | Vaishali Sharma
Prime Minister Narendra Modi stated that India has been and will continue to be the Maldives’ “first responder,” and that New Delhi has chosen to assist Male with an additional US...
Prime Minister Narendra Modi stated that India has been and will continue to be the Maldives’ “first responder,” and that New Delhi has chosen to assist Male with an additional USD 100 million line of credit.
“We have decided to provide an additional line of credit of USD 100 million to the Maldives so that all projects can be completed in a timely manner,” PM Modi said. At the beginning of his speech after inaugurating the Greater Male Connectivity Project today, PM Modi noted India’s bond with the Maldives.
“Our closeness has grown,” PM Modi said at the beginning of his speech after inaugurating the Greater Male Connectivity project on Tuesday.
PM Modi and Maldivian President Ibrahim Mohamed Solih jointly unveiled the Greater Male Connectivity project, the Maldives’ largest infrastructure project supported by New Delhi.
The two nations exchanged agreements in both India and the Maldives. India examined ideas for the development of 4000 social housing units in Greater Male and would also offer financial assistance for the construction of 2000 social housing units.
“We reviewed projects for the construction of 4000 social housing units in Greater Male. We will additionally provide financial support for 2000 social housing units: PM Modi said.
Speaking about the security needs in the Indian Ocean region, PM Modi said: “The threat of trans-national crime, terrorism and drug trafficking is serious in the Indian Ocean region. That’s why coordination between India and the Maldives in the field of defence and security is vital for the peace and stability of the entire region.”
The Maldives is an important Indian Ocean region neighbour and has a specific position in the country’s Neighbourhood First Policy.
The Maldives has traditionally been a close and significant maritime neighbour of India. Despite the pandemic-related interruptions, the two nations’ multifaceted connections have deepened.
India’s “Neighborhood First” policy and Maldives’s “India First” policy work in tandem to tackle shared concerns and advance mutual interests. Meanwhile, Maldivian President Ibrahim Mohamed Solih welcomed the operationalization of RuPay cards in the Maldives.
“Maldives-India relationship goes beyond diplomacy. This visit is an affirmation of the close bond between our two countries,” Solih noted.
Accompanied by a high-level official and business delegation, Solih arrived in India at the invitation of PM Modi yesterday.
“A warm welcome to a close friend and maritime neighbour! President Ibrahim Mohamed Solih of Maldives arrives in New Delhi for an official visit. An opportunity to nurture the unwavering friendship between our two countries and lend further momentum to the multifaceted partnership,” MEA had tweeted.