Friday, August 19th, 2022 14:05:18

India signs 50 million dollar Defence agreement with Maldives

Updated: February 22, 2021 7:09 pm
India has signed a 50 million dollar Line of Credit agreement in defence sector with the Maldives. External Affair Minister S Jaishankar, who was in the Maldives yesterday, said that the agreement will facilitate capability building in the maritime domain. The credit line agreement for defence projects was signed between the Finance Ministry of Maldives and the Export-Import Bank of India to boost the maritime capabilities of the strategically vital Indian Ocean island nation.

Dr Jaishankar also co-signed the UTF Harbour Project agreement with Maldives Defence Minister Mariya Didi. He said that the project agreement will strengthen Maldivian Coast Guard capability and facilitate regional Humanitarian Assistance and Disaster Relief efforts. The minister said that India and Maldives are partners in development as well as partners in security. The Maldives National Defence Force Coast Guard Harbour will come up at Sifavaru.

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