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Male: Prime Minister Narendra Modi has provided loan assistance of Rs 4,850 crore to Maldives ( Maldives!) during his visit to Maldives. This loan assistance has been given under the MoU between the two countries. This will take the strategic and economic partnership between the two countries to new heights. Along with this, India and Maldives have decided to start negotiations on a free trade agreement. On this occasion, PM Modi said that Maldives has an important place in India’s ‘Neighbor First’ policy and ocean vision.
Loan to improve economic stability and growth rate
The loan assistance of Rs 4,850 crore given by India to Maldives will help in strengthening the bilateral relations between the two countries. This financial assistance will provide the necessary resources for the development projects of Maldives. This will improve the economic stability and growth rate there. Along with this, talks have also started on a free trade agreement between India and Maldives. This agreement will promote trade and investment between the two countries. It will also encourage economic cooperation. With this agreement, many Maldives products will get entry in the Indian market, while Indian products will also become more competitive in Maldives.
Maldives’ most trusted friend
On this occasion, PM Modi said, “India is Maldives’ closest neighbor, Maldives holds an important place in both India’s Neighborhood First Policy and Ocean Vision. India is proud to be Maldives’ most trusted friend. Be it a disaster or an epidemic, India has always stood by as a first responder. For us, friendship always comes first.” Our relations are touching new heights
Prime Minister Narendra Modi said, “During the President’s visit to India in October last year, we shared the vision of a comprehensive economic and maritime security partnership, now it is becoming a reality and as a result of that our relations are touching new heights. 4000 social housing units built with the cooperation of India will now be the new home of many families in Maldives. Soon, the introduction of the Ferris system will make movement between different islands easier. To give a new flight to our development partnership, we have decided to give a line of credit of about 5 thousand crores to Maldives.”
PM Modi said, “We have taken several steps to accelerate our economic partnership. To accelerate mutual investment, we will soon work towards finalizing the bilateral investment treaty, talks have also started on the free trade agreement. Our goal is from paperwork to prosperity.”
Peace in the Indian Ocean region is our goal – PM Modi
PM Modi said, “Mutual cooperation in the field of defense and security is a symbol of mutual trust. The Defense Ministry building which is being inaugurated today is a strong building of this trust, a symbol of our strong partnership. Our partnership will now also extend to meteorology. Whatever the weather, our friendship will always remain bright and clear. Peace, stability and prosperity in the Indian Ocean region is our common goal.”
