India to provide $100 mn line of credit to Maldives: PM Modi after meeting President Solih

Prime Minister Narendra Modi on Tuesday met Maldives President Ibrahim Mohamed Solih to discuss ways to further deepen the bilateral partnership. PM Modi and the Maldives President reviewed bilateral ties and discussed ways to strengthen linkages in areas of the development partnership, trade, connectivity and P2P ties, among others.

Sharing images of the duo, Ministry of External Affairs Spokesperson Arindam Bagchi said, "A partnership bound by the waves of the Indian Ocean, underpinned by close historical and cultural ties."

India-Maldives delegation-level talks were organised on Tuesday under the leadership of PM Modi and President Solih. After reviewing bilateral ties, the two world leaders witnessed the exchange of agreements between the two countries. 

Addressing the media during a joint press statement with President Ibrahim Mohamed Solih, PM Modi said, "We reviewed projects for the construction of 4,000 social housing units in Greater Male. We will additionally provide financial support for 2,000 social housing units."

India to provide a $100 million line of credit to the Maldives

PM Modi further informed that India has also 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.

"In the last few years, there has been a renewed vigour in the friendly relations between India and Maldives, and our closeness has increased. Despite the challenges posed by the pandemic, our cooperation is taking the form of a broad partnership," the Indian Prime Minister added. 

Talking about the need to enhance defence and security, 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."

'Maldives will remain a true friend of India': President Ibrahim Mohamed Solih  

Meanwhile, the President of Maldives, Ibrahim Mohamed Solih, during the joint conference, said, "Maldives-India relationship goes beyond diplomacy. This visit is an affirmation of the close bond between our two countries."

"Maldives will remain a true friend of India," said Solih after talks with PM Modi. 

Notably, the Maldives President's visit to India came amid his political rift with Mohammed Nasheed, former President of the island nation and the current Parliament Speaker. Both Solih and Nasheed belong to the Maldivian Democratic Party.

This is Solih’s second official visit to India. He came once before in December 2018 days after his election. He once also visited Bengaluru in April 2019 to watch an IPL cricket match. He arrived in India on Monday on a four-day visit to India at the invitation of PM Modi.