The two nations inked eight significant agreements on debt repayment, fisheries, digital payments, and a new Line of Credit worth Rs 4,850 crore during Prime Minister Narendra Modi's visit to Maldives on Friday.
Both sides reaffirmed their commitment to a deeper maritime and economic partnership in front of Prime Minister Modi and President Mohamed Muizzu of the Maldives. India committed to lowering the Maldives' loan repayment burden by 40% and fostering digital connections through local currency trading, UPI, and RuPay.
Key Highlights
- India extends $565 million line of credit and eases existing debt repayments, deepening financial partnership and development support.
- Eight bilateral MoUs signed covering UPI integration, fisheries, digital cooperation, health, trade talks, debt relief and FTA launch.
Along with delivering medical aid kits, security vehicles, and more than 3,300 social housing units to the Maldives, PM Modi and President Muizzu also jointly inaugurated important infrastructure projects, such as an upgraded airport and a new defense headquarters. Under India's "Neighbourhood First" and SAGAR vision, bilateral cooperation was further extended in the areas of renewable energy, disaster risk reduction, and climate resilience.
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Modi praised the agreements signed as a testament to India's friendship and dedication to the island nation, and the visit also commemorated 60 years of Maldivian independence and diplomatic relations.
