Exim Bank addresses India-funded projects in Maldives

In September, it was announced that Mohamed Muizzu, the leader of the coalition consisting of the Progressive Party of the Maldives and the People's National Congress, had emerged victorious in the Presidential election in the South Asian archipelagic state. He defeated the incumbent, Ibrahim Mohammed Solih from the Maldivian Democratic Party. The two Maldivian leaders had markedly different approaches towards India. While Solih, during his time in office, adhered to an 'India-First Policy', resulting in the signing of numerous India-funded infrastructure projects in the Maldives between 2018 and 2023, Muizzu's election campaign revolved around slogans advocating for 'India Out'. Personally, Muizzu had publicly called for the withdrawal of Indian military presence from the South Asian island. With the new Maldivian president assuming power, who is perceived as being pro-China according to the Indian foreign policy establishment, there is a sense of uncertainty concerning Indian interests in the island nation. However, a senior government banking official expressed the opinion that the new Maldivian president was likely to adopt a rational approach towards India.