India announced on Monday, that it will provide a financial assistance of about $1.4 billion in the form of budgetary support to Maldives, after India’s Prime Minister Narendra Modi held talks with Maldives President Ibrahim Solih over the bilateral ties between the two nations.
According to news reports, the announcement by Modi was made during a press conference. Modi said, “For Maldives’ social and economic development we are providing a financial assistance of $1.4 billion in the form of budgetary support, currency swap agreements and concessional lines of credit.”
Solih, who is on three-day official foreign visit to India, has on Sunday, arrived India and had a talk session with Modi, aimed to strengthen bilateral ties between India and Maldives.
In September, Solih has defeated Abdulla Yameen in general polls, arrived on Sunday’s afternoon and was received by Indian union minister Hardeep Singh Puri. Solih was taken to Rashtrapati Bhavan as a special guest of Indian government.
According to news reports, while addressing a public event, Solih said India is a very close friend nation od Maldives and also described India as one of a most important trade partners of Maldives. Reports said the meeting is also aimed at facilitating smooth procurement of the visas for citizens of both the nations.
A day after a set of meetings with Indian officials on Monday, Solih will visit Taj Mahal on Tuesday. Solih’s visit comes after Modi has attended Solih’s swearing-in ceremony. Modi showed his willingness towards increased bilateral ties with Maldives and had also said he was looking forwards to closely work with Solih and also expressed confidence over the renewal of ties.