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India-Maldives relations
Why is it in news?
- During recent visit of President Ibrahim Mohamed Solih of the Maldives to India, a financial package of $1.4 billion was declared by India for the Maldives.
More in news
- The package comes as Maldives is facing a debt of $3.2 billion with China.
- It is expected to boost Male’s global financial standing.
- A Joint Statement issued during the visit announced that the financial assistance will be in the form of budgetary support, currency swap and concessional lines of credit for development programmes.
- Both sides signed four agreements, including one easing visa procedures for Maldivian citizens.
- Both sides also agreed to coordinate maritime policing activities in the Indian Ocean region.
Source
The Hindu