Indian prime minister announces US$1.4 billion assistance to Maldives
The funds were pledged as budget support, currency swap agreements and concessional lines of credit.
17 Dec 2018, 9:00 AM
India will grant the Maldives US$1.4 million in budget support, currency swap agreements and concessional lines of credit, Prime Minister Narendra Modi announced at a joint press briefing Monday after welcoming President Ibrahim Mohamed Solih on his maiden state visit.
An agreement on visa arrangements and Memoranda of Understanding on cultural cooperation and improving ecosystems for agribusiness were also exchanged following high-level discussions at Hyderabad House.
The agreement eases the process of obtaining dependent and medical visas and facilitates a 90-day visa for Maldivians travelling for tourism or business purposes.
As his first port of call since assuming office on November 17, President Solih’s official visit to India has been hailed as the beginning of a “new era” of diplomatic relations with the giant neighbour.
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