India extends $1.4 billion assistance to the Maldives

Maldives President Ibrahim Mohamed Solih and Prime Minister Narendra Modi shake hands (Reuters)

Prime Minister Narendra Modi on Monday declared $1.4 billion money help to Maldives when he held intensive talks with President ibrahim Mohamed Solih + during which both sides vowed to deepen security cooperation in the ocean region. The 2 countries additionally inked four pacts, including one on visa facilitation.

"We held winning talks in an exceedingly cordial atmosphere. We tend to vowed to strengthen ties," Modi aforesaid in his press statement, with Solih by his side. He additionally aforesaid the security interests of the 2 countries were intertwined and each side can work along to more strengthen cooperation in the ocean region.

Ahead of his meeting with Indian leaders on Monday, Maldives government minister Abdulla Shahid told that Male was still trying to review the implications of the debt accumulated by the previous Abdulla Yameen government as figures provided by governing body on foreign debt didn't necessarily "tally with the Chinese estimates".

"We won't permit our countries to be used for activities which can be harmful to every other's interests," Modi asserted.

The Prime Minister said India is extending $1.4 billion as budget support, currency swap and line of credit for the social and economic development of Maldives.

"We need bigger trade ties with Maldives. There are increasing opportunities for Indian firms in the island nation," he said.

On his part, Solih said the 2 sides in agreement to strengthen maritime security cooperation in the ocean region through coordinated patrol and aerial surveillance. Solih arrived here on Sunday on a three-day state visit, his 1st foreign trip after assuming the charge of the top office in the island nation a month ago.