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India signs USD 50 million defence LoC agreement to boost maritime capabilities of Maldives
India on Sunday reiterated its commitment to the Maldives security and signed a USD 50 million defence Line of Credit agreement with it to boost the maritime capabilities of the strategic island nation. The USD 50 million credit line agreement for defence projects was signed between the Finance Ministry of Maldives and the Export-Import Bank of India.
The signing of the agreement took place after External Affairs Minister S Jaishankar held talks with Maldivian Defence Minister Mariya Didi, Minister of Finance Ibrahim Ameer, Minister of Economic Development Fayyaz Ismail and Minister of National Planning, Housing and Infrastructure Mohamed Aslam.
India inks $50 million defence LoC agreement with Maldives EDS: TWITTER IMAGE POSTED BY @DrSJaishankar ON SATURDAY, FEB. 20, 2021 Maldives: External Affairs Minister S.Jaishankar being received by Foreign Minister of Maldives Abdullah Shahid on his arrival in Maldives. (PTI Photo)(PTI02 20 2021 000164A)
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India on Sunday reiterated its commitment to the Maldives security and signed a $50 million defence Line of Credit (LoC) agreement with it to boost the maritime capabilities of the strategic island nation.
India will always be a reliable security partner for the Maldives, External Affairs Minister S Jaishankar said today, as New Delhi signed the agreement with the island nation to facilitate capability building in the maritime domain.
India signs $50-mn pact to boost Maldives’ naval capabilities
India inks $50 mn line of credit to strengthen Maldives maritime capabilities
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New Delhi: India has signed an agreement with the Maldives to extend a $50-million line of credit to strengthen Male’s maritime capabilities, cementing New Delhi’s position as a key defence partner of the archipelago nation.
A total of five agreements were signed between the two countries over the weekend during Indian foreign minister S. Jaishankar’s two-day visit to Male which concluded on Sunday. It comes against the backdrop of China looking to increase its footprint in the Indian Ocean region seen as India’s sphere of influence with its multi-billion dollar Belt and Road Initiative and expanding naval presence.
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PTI
Male: India will always be a reliable security partner for the Maldives, External Affairs Minister S Jaishankar said here on Sunday, as the Centre signed a USD 50 million defence Line of Credit agreement with the island nation to facilitate capability building in the maritime domain.
Jaishnakar, who is in the Maldives on a two-day visit, held discussions with Maldivian Defence Minister Mariya Didi. Cordial meeting with Defence Minister @MariyaDidi . Useful exchange on our defence cooperation. India will always be a reliable security partner for the Maldives, he said in post on social media. Glad to sign with Defence Minister @MariyaDidi the UTF Harbour Project agreement. Will strengthen Maldivian Coast Guard capability and facilitate regional HADR efforts. Partners in development, partners in security, he said.