Particle.news
Download on the App Store
6 ARTICLES
·
3w ago

Modi Secures $565 Million Credit Line and Free-Trade Talks in Maldives

It marks India’s strategy to broaden its influence by bolstering financial stability alongside defence capabilities in the Maldives

Image
PM Narendra Modi with Maldives President Mohamed Muizzu on the concluding day of his visit to the island nation on July 26.
India’s Prime Minister Narendra Modi (centre) plants a tree sapling during his state visit in Male on July 25 as the Maldives’ President Mohamed Muizzu looks on. Photo: AFP
PM Modi attended the 60th Independence Day celebrations of Maldives at the Republic Square in Male as the Guest of Honour.

Overview

  • During his July 25–26 state visit as Guest of Honour for the 60th Independence Day, PM Modi announced a US$565 million credit line and reduced annual debt repayments to ease the Maldives’ fiscal pressures.
  • India delivered 72 vehicles to the Maldives National Defence Force and pledged further personnel training and maritime support to enhance regional security cooperation.
  • Negotiations on a free-trade agreement and a bilateral investment treaty were formally launched to deepen economic integration under India’s Neighbourhood First policy.
  • The Maldives appointed Bollywood star Katrina Kaif as its tourism ambassador and set a 200,000-Indian-visitor target to revive arrivals after last year’s diplomatic-triggered boycott.
  • Stalled Chinese loan-restructuring talks since January 2024 have allowed India to counter Beijing’s influence through more attractive financial and development offers.