India-Maldives Strengthen Ties with Financial Support and Digital Connectivity Initiatives

Maldives President Mohamed Muizzu praised India's financial aid, including a Rs 30 billion agreement and a USD 400 million currency swap. Talks with PM Modi focused on strengthening bilateral ties and digital connectivity. Highlights included the launch of RuPay card payments and virtual inauguration of an airport runway.

In a significant boost to Indo-Maldivian relations, President Mohamed Muizzu of the Maldives expressed gratitude to India's Prime Minister Narendra Modi for a generous financial package, including a Rs 30 billion economic aid and a USD 400 million bilateral currency swap agreement. This aid comes at a crucial time for the Maldives as it addresses foreign exchange challenges. The two leaders participated in bilateral and delegation-level discussions at Hyderabad House, New Delhi.

The Indian government, showing ongoing support for the financially challenged Maldives, announced the rollover of USD 100 million in Treasury bills. This support is part of a broader agreement that involves a USD 400 million and Rs 3,000 crore currency swap. Prime Minister Modi highlighted the 'development partnership' as central to relationships between New Delhi and Male, emphasizing India's commitment to Maldivian priorities.

Signaling a new phase of digital connectivity, Prime Minister Modi and President Muizzu unveiled RuPay card payments in the Maldives and virtually inaugurated the Hanimaadhoo International Airport runway. Modi announced forthcoming UPI connectivity between the countries, underscoring Maldives' strategic position in India's neighborhood policy and SAGAR vision. President Muizzu also engaged in diplomatic meetings with key Indian leaders, further solidifying the bilateral ties.

(With inputs from agencies.)