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India signs USD 50 million defence LoC agreement to boost maritime capabilities of Maldives
India on Sunday reiterated its commitment to the Maldives' security and signed a USD 50 million defence Line of Credit agreement with it to boost the maritime capabilities of the strategic island nation. The USD 50 million credit line agreement for defence projects was signed between the Finance Ministry of Maldives and the Export-Import Bank of India.
The signing of the agreement took place after External Affairs Minister S Jaishankar held talks with Maldivian Defence Minister Mariya Didi, Minister of Finance Ibrahim Ameer, Minister of Economic Development Fayyaz Ismail and Minister of National Planning, Housing and Infrastructure Mohamed Aslam.