India to award Maldives MVR 100M in grant assistance for socio-economic development

The Indian government has made the decision to award Maldives up to MVR 100 million in grant assistance for socio-economic development projects.

The decision was announced during the two-day visit by Minister of External Affairs of India, Sushma Swaraj, to Maldives, this Monday.

Ministry of Foreign Affairs of Maldives reports the MVR 100 million financial aid facility will be utilized for socio-economic development projects run by State offices and institutions.

Swaraj, during her visit, also signed a separate document for a USD 6 million grant assistance. The Memorandum of Understanding regarding Indian Grant Assistance for Implementation of High Impact Community Development Projects through Local Bodies will fund projects in three key areas; education, health, and social development.

She also pledged continued support for the further development of the health sector through provision of equipment, and capacity building programs.

Indian newspapers carried reports in late 2018 that the Indian government will be providing Maldives with USD 55.4 million in grant assistance and USD 24.4 million in loan assistance this year.

The Indian government, during the state visit to India by President Ibrahim Mohamed Solih in December, 2018, announced the decision to open a credit line of USD 1.4 billion to Maldives.

Swaraj, during her visit to Maldives, held meetings with Minister of Foreign Affairs, Abdulla Shahid; Minister of Defense, Mariya Ahmed Didi; Minister of Finance, Ibrahim Ameer; Minister National Planning and Infrastructure, Mohamed Aslam; Minister of Health, Abdulla Ameen; Minister of Transport and Civil Aviation, Aishath Nahula; Minister of Arts, Culture and Heritage, Yumna Maumoon; Minister of Environment, Dr. Hussain Rasheed Hassan; Minister of Economic Development, Fayyaz Ismail; and Minister of Home Affairs, Sheikh Imran Abdulla.

She also called on Speaker of Parliament, Qasim Ibrahim; and President Ibrahim Mohamed Solih before concluding her two-day visit this Monday evening.