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India gives Maldives USD 100 million in financing to get it out of its financial crisis

India gives Maldives USD 100 million in financing: India gave the Maldives USD 100 million to help the Indian Ocean archipelago state with its financial difficulties. Foreign Minister Ibrahim Ammer and Finance Minister Abdulla Shahid both attended the ceremony that was conducted at the Ministry of Foreign Affairs.

India gives Maldives USD 100 million: Key Points

  • Our extraordinary cooperation, distinguished by genuine concern for each other’s welfare and interests, delivers every time and particularly in the moment of need,” External Affairs Minister S. Jaishankar tweeted about the same statement.
  • To help the Maldives with its financial difficulties, India offered them $100 million. Several ministers tweeted their admiration for the event on that day.
  • In a tweet, the Maldives’ Foreign Ministry stated that “The Government of India gave over financial assistance to the Government of Maldives amounting to USD 100 million to reduce the financial strain.
  • India continues to be dependable and unwavering in its support for the Maldives.

Maldives in Financial Crisis

Foreign Secretary Vinay Kwatra met Maldivian Defense Minister Mariya Didi in Male in October 2022. They talked on how to improve the two nations’ defence cooperation. He also gave the Maldives National Defence Force 24 utility vehicles from a variety of makes and models that were kept as grant aid from India. Additionally, Vinay Kwatra met with President Ibrahim Mohamed Solih and arranged in-depth conversations about bilateral relations, as well as the advancement of existing development initiatives in the island country.

About Republic of the Maldives

An archipelago of about 1200 coral islands and atolls makes up the Maldives. The nation is located in the Indian Ocean and is a part of South Asia. India and the Maldives are separated by an 8-degree canal. Rufiyaa is the money used in Male, the capital of the Maldives.

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