The Indian government on Thursday, 13 August, extends a financial grant worth USD250 million to the government of Maldives.
Moreover, the financial grant will support Maldives in meeting the state finance gap along with ensuring financial backing for Covid-19 efforts.
During a digital video conference on Thursday, Indian Minister of External Affairs Dr. Subrahmanyam Jaishankar made announcement of Delhi’s decision.
Furthermore, the conference had his Maldivian counterpart Minister of Foreign Affairs Abdulla Shahid in presence as well.
On Thursday’s meeting, both dignitaries reviewed progress on the ongoing development projects involving both bilateral allies.
Moreover, both ministers made acknowledgement of the progress made on the projects considered under USD800 million credit line.
Earlier, during the state visit of President Ibrahim Mohamed Solih to India in December 2018, the credit line announcement was made.
Following which Indian Export-Import Bank and Ministry of Finance bore signatories for the agreement on March 2019.
Meanwhile, several key infrastructure projects are under consideration; which will receive probable funding through the credit line.
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