India has declared a financial aid of $1.4 billion (approximately Rs 10,000 crore) to the Maldives. Prime Minister Narendra Modi announced the package on Monday during a joint press conference with Maldives President Ibrahim Mohamed Solih in New Delhi.
Solih reached Delhi on Sunday on a three-day tour. This is his first foreign trip since taking charge in November. The two countries signed four agreements during the visit.
“The Prime Minister announced provision of financial assistance up to US$ 1.4 billion in the form of budgetary support, currency swap and concessional lines of credit to fulfil the socio-economic development programmes of the Maldives,” the Prime Minister’s Office said in a statement.
“Both leaders agreed on the importance of maintaining peace and security in the Indian Ocean Region,” the statement added. “In furtherance of the shared recognition that the security interests of both the countries are interlinked in the region, they reiterated their assurance of being mindful of each other’s concerns and aspirations for the stability of the region and not allowing their respective territories to be used for any activity inimical to the other.”
“The two leaders reaffirmed their unwavering commitment and support for increased cooperation in combating terrorism in all its forms and manifestations both within the region and elsewhere,” it added. The two countries also agreed to enhance bilateral cooperation on issues of common concern such as piracy, organised crime, drugs and human trafficking.
“India is not only our closest friend, it is also our largest trading partner”, Solih had said on Sunday, according to PTI.
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