New Maldives president secures $1.4 bn from 'closest friend' India

Hitting the reset button to restore ties that had deteriorated during the previous regime, new Maldivian President Ibrahim Mohammed Solih reaffirmed his government's 'India-First' policy and commitment to work closely with India. Reciprocating the gesture, India also pledged an aid package worth $1.4 billion for the island nation in the form of budgetary support, currency swap and concessional lines of credit to fulfil its socio-economic development programmes. Solih, here with his wife Fazna Ahmed on an official visit, held discussions with Prime Minister Narendra Modi. "India is our closest neighbour and our people are bound by ties of friendship and cultural affinity. Within those close links, trade and commerce have flourished. India is not only our closest friend, it's also one of our largest trading partners," Solih said.

Both leaders agreed on the importance of maintaining peace and security in the Indian Ocean Region, with PM Modi announcing that both countries "will increase cooperation to maintain stability in the region" and that "security interests of both the countries are interlinked. He added that both countries will not allow their respective territories to be used for any activity inimical to the other.

As part of its commitment, India will provide 1,000 additional slots over the next five years for training and capacity building in diverse fields including judicial, policing and law-enforcement, audit and financial management, local governance, community development, etc.

Additionally, 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," he said.