India, Maldives Sign ₹4,850 Cr Credit Deal

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India and the Maldives have signed a significant agreement providing a ₹4,850 crore Line of Credit (LoC) to support development projects in the island nation. The agreement was finalized during talks between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu in Malé.

The leaders reviewed the full spectrum of bilateral ties and reaffirmed their commitment to deepening cooperation across sectors. India also agreed to amend earlier credit terms, easing the Maldives’ annual debt repayment obligations.

Key areas of cooperation include infrastructure, health, climate change, digital transformation, and aquaculture. New Memorandums of Understanding (MoUs) were inked on fisheries, weather services, and digital public infrastructure.

The two sides also agreed to advance discussions on a potential Free Trade Agreement (FTA), underscoring mutual goals for regional peace and prosperity in the Indian Ocean.

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