New Delhi: Prime Minister Narendra Modi on Tuesday said that India will extend an additional $100 million line of credit to the Maldives. This comes after the bilateral talks between PM Modi and visiting Maldivian president Ibrahim Solih in New Delhi on Tuesday.
The two countries also signed six pacts to facilitate cooperation in capacity building, cyber security, housing, disaster management and infrastructure. Prime Minister Narendra Modi in a joint press statement said that the threat of trans-national crime, terrorism and drug trafficking is serious in the Indian Ocean and therefore, close India-Maldives ties are vital for peace and security of the region. The Prime Minister also announced a line of credit of USD 100 million for the neighbouring country for the completion of development projects in a time-bound manner.
Meanwhile, Maldivian President Ibrahim Solih also reiterated his country’s firm commitment to dealing with the threat of terrorism. Both leaders participated in the virtual "pouring of the first concrete” ceremony of the USD 500 mn Greater Male Connectivity Project being built under the grant and concessional loan support from India. The two leaders directed the officials to ensure the timely completion of this largest landmark infrastructure project in the Maldives - that will enhance mobility between Male’, Villingili, Gulhifalhu and Thilafushi islands cut down logistics costs and drive people-centric economic growth- which will be a symbol of the enduring friendship between the two countries.
Also, the leaders reviewed the progress achieved in the development of the 4,000 social housing units being built in Greater Male under Buyer’s Credit financing of Exim Bank of India. These housing units are in line with the Government of Maldives’ focus on providing affordable housing for its citizens. They further welcomed the approval of Exim Bank of India Buyer’s Credit funding of USD 119 mn for the construction of another 2000 social housing units in Greater Male and the exchange of a Letter of Intent to this effect between Exim Bank of India and the Government of Maldives. President Solih expressed appreciation to the Government of India for the generous assistance for additional housing units.
The President of Maldives Ibrahim Mohamed Solih is on an Official Visit to India at the invitation of Prime Minister Narendra Modi. This is President Solih’s third visit to India since assuming office on 17 November 2018. President Solih is accompanied by a high-level official delegation comprising Ibrahim Ameer, Minister of Finance, Fayyaz Ismail, Minister of Economic Development, Aishath Mohamed Didi, Minister of Gender, Family and Social Services, and a business delegation.
