In a significant boost to bilateral relations, India and the Maldives inked eight key agreements on Friday, focusing on areas like debt relief, fisheries development, digital payments, and a fresh Line of Credit valued at Rs 4,850 crore. The pacts were exchanged during Prime Minister Narendra Modi’s trip to Malé, highlighting a renewed push for economic and maritime collaboration.
With PM Modi and Maldivian President Mohamed Muizzu overseeing the proceedings, both nations reiterated their dedication to deepening partnerships. India committed to reducing the Maldives’ loan repayment obligations by 40%, while also advancing digital connectivity through initiatives like UPI, RuPay cards, and trading in local currencies.
During the visit, PM Modi presented 3,300 social housing units, vehicles for the security forces, and essential medical aid kits to support the island nation. The leaders also jointly launched several infrastructure projects and vowed to work together on pressing issues such as climate change, disaster management, and renewable energy sources.
The occasion coincided with the 60th anniversary of the Maldives’ independence and the diplomatic relations between the two countries. PM Modi described the agreements as a testament to India’s “Neighbourhood First” policy and the enduring bond shared with the Maldives.
