India extends USD 100 million credits to Maldives to overcome financial crisis

India handed over USD 100 million to the Maldives on November 30, 2022, to ease the financial challenges faced by the archipelagic state in the Indian Ocean. A ceremony was held at the Ministry of Foreign Affairs where Foreign Minister Abdulla Shahid and Finance Minister Ibrahim Ammer were also present.

External Affairs Minister S. Jaishankar tweeted about the same saying “Our special partnership, marked by genuine concern for each other's welfare and interests, delivers every single time and particularly in the time of need”.

Govt of India handed over financial assistance of $100 million to Govt of Maldives, amid the economic challenges faced by Maldives

We (India-Maldives) have good friendship that's reaping benefits, supports each other & is creating history: Abdulla Shahid, Foreign min,Maldives pic.twitter.com/43CPTd16ec

— ANI (@ANI) November 29, 2022

What did Maldives Minister say at the ceremony?

1.  India gave $100 million to the Maldives to ease the financial challenges faced by the country. On the occasion, different ministers tweeted about the same in appreciation.

2. The Foreign Ministry of Maldives said in a tweet that “ The Government of India handed over financial assistance to USD 100 million to the Government of Maldives to ease the financial burden. India remains reliable and steadfast in extending support to the Maldives”. 

3. Foreign Minister Shahid thanked India for the financial assistance of USD 100 million and tweeted, “ It is truly the strength of our ties that enable mutual growth and cooperation reaffirming #MaldivesIndiaPartnership.”

4. He later also added that their friendship is strong-that is why it has borne fruit. The bond is deep and appreciated by everyone. Friendship goes on like time, and if friendship is like us then it creates history.

Foreign Secretary Vinay Kwatra visited Male: key details

1. In October 2022, Foreign Secretary Vinay Kwatra visited Male and met Maldivian Defence Minister Mariya Didi. They discussed the methods to boost defence cooperation between the two countries.

2. He also handed over 24 utility vehicles of a diverse range kept under India’s grant aid to the Maldives National Defence Force.

3. Vinay Kwatra also called on President Ibrahim Mohamed Solih and organized substantive discussions on bilateral relations, including the progress of ongoing development projects in the island nation. 

More about the Republic of Maldives

Maldives is an archipelago comprised of around 1200 coral islands and atolls. The country is a part of South Asia and is situated in the Indian Ocean. The 8-degree channel separates the Maldives from India. Male is the capital of Maldives and it has Rufiyaa as its currency.