India pledges 5 million to Maldives for infrastructure development.
Indian Prime Minister Narendra Modi has embarked on a significant diplomatic visit to the Maldives, where he announced a substantial 5 million credit line and initiated free trade negotiations. This two-day visit, which commenced on a Friday, underscores India’s commitment to enhancing its development partnership with the Maldives, a strategically located nation in the Indian Ocean, particularly in light of the increasing competition for influence between India and China.
The credit line, as highlighted by Modi, will be pivotal in funding projects that align with the developmental priorities articulated by the Maldivian populace. Emphasizing the depth of bilateral cooperation, Modi stated that both nations aim to finalize a bilateral investment agreement during this visit, showcasing India’s commitment to fostering mutual growth.
Modi’s trip marks his inaugural official engagement in the Maldives since securing a third term as Prime Minister last year. He reiterated India’s role as a primary supporter to the Maldives, which has a population of about 525,000 residents. “India will continue to support the Maldives in strengthening its defence capabilities,” he asserted, framing defense enhancement as part of a broader agenda for the shared peace, stability, and prosperity in the Indian Ocean region.
In recent months, there has been apprehension in New Delhi regarding the Maldives’ potential shift towards China following the election of President Mohamed Muizzu, who campaigned on an anti-India platform. Interestingly, following his election, Muizzu’s first official visit to China rather than India created a momentary diplomatic rift, further intensified by his decision to withdraw a small contingent of Indian military personnel who were engaged in operational roles in the Maldives.
However, relations between the two countries have taken a positive turn. Prime Minister Modi’s subsequent support helped prevent the Maldives from defaulting on a considerable debt amidst challenges in their tourism sector. In recent interactions, Muizzu has moderated his earlier stance, fostering a renewed commitment towards enhancing bilateral ties. He acknowledged that the funding from India will not only bolster the Maldives’ security framework but will also significantly contribute to improving vital sectors such as healthcare, housing, and education.
During this visit, Modi is scheduled to partake in the celebrations marking the Maldives’ 60th Independence Day and will also inaugurate an expansion project at the international airport on the island of Hanimaadhoo, a venture co-financed by India. This visit highlights a rapidly evolving partnership focused on shared interests and regional stability.
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