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India to extend a second $100 mn line of credit to the Maldives

India to extend a second $100 mn line of credit to the Maldives

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New Delhi: Prime Minister Narendra Modi on Tuesday said India would extend an additional $100 million line of credit to the Maldives.

Following his bilateral talks with the visiting President of Maldives, Ibrahim Mohamed Solih, India, and the Maldives signed six pacts to facilitate cooperation in capacity building, cyber security, housing, disaster management, and infrastructure.

Solih also reiterated his country’s “firm commitment to deal with the threat of terrorism.”

Earlier, President Solih, leading a high-level delegation, arrived on Monday on a four-day official visit to India. Union Minister Sanjeev Balyan welcomed him at the airport.

This is President Solih’s third trip to India since taking office on November 17, 2018.

External Affairs Minister Dr. S. Jaishankar also called on the visiting President.

According to a joint press release, the two countries examined plans to build 4,000 social housing units in Greater Male. India will also contribute financially to the construction of 2,000 social housing units.

Modi emphasized the threat posed by international crime, terrorism, and drug trafficking in the Indian Ocean and underlined efforts for the peace and stability of the entire area.

He said India has always been the first to act in times of need or a disaster in the Maldives and will do so in the future.

They also underlined the significance of the $500 million, India-funded project on Greater Male Connectivity to increase mobility, save costs, and promote economic growth.

(Venkatesh)

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