INDIA
India will be providing a financial assistance up to US$ 1.4 billion in the form of budgetary support, currency swap and concessional lines of credit to fulfil the socio-economic development programmes of the Maldives.
Maldives and India have officially announced the positive reset in ties with the visit of Maldives President Ibrahim Mohammed Solih. While President Solih reaffirmed his government’s "India-First Policy”, and commitment to working together closely with India, New Delhi announced an aid package for the Maldives.
India will be providing a financial assistance up to US$ 1.4 billion in the form of budgetary support, currency swap and concessional lines of credit to fulfil the socio-economic development programmes of the Maldives. This was announced by PM Modi during press statements being delivered alongside Maldivian President Ibrahim Mohammed Solih. PM Modi said, "I am happy to announce, for social and economic development of Maldives, we will provide currency swap, credit with lines of credit worth 1.4 billion dollar."
Both leaders agreed on the importance of maintaining peace and security in the Indian Ocean Region. PM Modi announced that both countries "will increase cooperation to maintain stability in the Indian ocean region" and "security interests of both the countries are interlinked in the region and both will not allowing their respective territories to be used for any activity inimical to the other."
The President talked about how both countries can strengthen security in Indian Ocean. He said, "(India and Maldives) agreed to strength Maritime Security in Indian ocean region coordinated patrolling and aerial surveillance, exchange of information and capacity building.."
India will provide 1000 additional slots over the next 5 years for training and capacity building in diverse fields including judicial, policing and law-enforcement, audit and financial management, local governance, community development etc.
President Solih reiterated his country's support for India's candidature for permanent membership of an expanded and reformed UN Security Council. The Maldives will also support for India’s candidature for non-permanent seat for the year 2020-21.
VISA PACT
India and Maldives signed 4 agreement, one was an agreement on the Facilitation of Visa Arrangements which will ease visa issuance for people of 2 countries. PM noted that the new Agreement will address the common concerns and ensure that people-to-people contacts are enhanced. President Solih said the agreement will facilitate many Maldivians who send their children to school in India, to be able to accompany them. The Agreement facilitates easier visa arrangements for Maldivian citizens and their families, to come to India for medical treatment.
The Maldives is one of the very few countries with which India has a visa-free arrangement.
In an important gesture, President Solih is staying in the Rashtrapati Bhawan as a special guest of President of India. According to the joint statement released by Ministry of external affairs, "This demonstrates the close ties between India and the Maldives, and the warmth and mutual respect between the two governments."
This is President Solih's first foreign visit after taking over. This visit comes exactly one month after PM Modi's visit to the country on 17th November to take part in the swearing-in ceremony of President Solih. PM Modi was the only head of state invited to take part in the swearing-in ceremony. The relationship between India and Maldives suffered under the previous Yameen govt who junked the pro-India policy for a pro-China policy.
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