India and the Maldives have signed five agreements in a bid to boost the infrastructure of the island nation. Besides the five agreements, India also extended Line of Credit (LC) to the country for the development of sports infrastructure and defence projects.
There had been regular meetings and engagements between India and Maldives during the pandemic. Building upon these, External Affairs Minister S Jaishankar visited the island nation.
The five pacts that were signed during minister Jaishankar's visit are:
An additional donation of 100,000 doses of Covid vaccines was also made by India to the Maldives.
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India also announced a $40 million standalone LoC to boost sports infrastructure in the Maldives. The government of India also extended a $50 million LoC to the Maldives for defence projects, and the two countries signed an agreement to develop and maintain a key naval facility for the armed forces of the Indian Ocean archipelago.
Prime Minister Narendra Modi had announced the commencement of direct cargo ferry service between India and Maldives in June 2019 to enhance sea connectivity and provide predictability in supplies and reduce logistics cost for India-Maldives trade. So far, six voyages have taken place.
Image: The defence LoC granted is said to facilitate capability building in the maritime domain.
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