Maldives In Choppy Waters, India To The Rescue: Extends $1.4 Billion Aid During President Solih’s First Visit

Prime Minister Narendra Modi, after extensive talks with newly elected Maldivian President Ibrahim Mohamed Solih on Monday (17 December), announced that India will be extending financial assistance worth $1.4 billion to the island nation, The Tribune has reported.

During talks between leaders of the two countries, both sides vowed to deepen the security cooperation in the Indian Ocean region. Four pacts, including one on visa facilitation, were inked between the two countries during the meeting.

“We held successful talks in a cordial atmosphere. We vowed to strengthen ties,” said Prime Minister in a press conference along with the Maldivian President.

Prime Minister said that both the countries' security interests were intertwined and both sides should work together to build strong cooperation in the Indian Ocean region.

“We will not allow our countries to be used for activities which can be harmful to each other’s interests,” Modi asserted.

He said that for the social and economic development of Maldives, India is extending $1.4 billion as budget support, currency swap and line of credit to the island nation.

Solih, who was on his first official foreign trip since assuming the office, said the two sides agreed to strengthen maritime security cooperation in the Indian Ocean region through coordinated patrol and aerial surveillance.