‘Maldives Not Just Neighbour, But Co-Traveller’: PM Modi In Malé, Announces $565M Credit Line

Prime Minister Narendra Modi, visiting the Maldives on Friday, hailed the deep-rooted ties between the two nations, announcing a fresh $565 million line of credit for the island nation and asserting that the Maldives holds a special place in India’s “Neighbourhood First” policy. At a joint press conference with Maldivian President Mohamed Muizzu in Malé, PM Modi described the two countries as “not just neighbours but also co-passengers” on a shared journey.

Marking 60 years of formal diplomatic relations, the Prime Minister emphasized that the connection between India and the Maldives is “older than history and as deep as the sea.” To commemorate the occasion, both leaders jointly released special stamps depicting traditional boats from both countries, a gesture Modi said symbolized their shared voyage.

In a significant boost to the development partnership, PM Modi announced the $565 million (approximately ₹5,000 crore) line of credit. He stated that these funds would be utilized for crucial infrastructure projects, aligned with the priorities of the Maldivian people.

Reaffirming India’s commitment, the Prime Minister described India as the Maldives’ “most trusted friend” and a reliable “First Responder” in any crisis. “Whether it is about providing essential commodities or managing the economy post-Covid, India has always worked together with Maldives,” he said.

The visit also highlighted the robust defence and security cooperation, which PM Modi called a “testament to mutual trust.” He referred to the inauguration of the new Defence Ministry building, constructed with Indian assistance, as a “concrete structure of trust” and pledged India’s continued support for strengthening the Maldives’ defence capabilities.