Strengthening Ties: Key Agreements and Projects Announced During Indian PM’s State Visit to Maldives. 

Maldives:

In a landmark visit aimed at deepening bilateral relations, the Prime Minister of India Narendra Modi concluded a successful state visit to the Maldives, resulting in a wide array of strategic agreements, project inaugurations, and announcements that reinforce the strong and time-tested partnership between the two nations.

Major Financial & Strategic Agreements Signed

The visit saw the announcement of several key agreements and Memoranda of Understanding (MoUs), underlining India’s commitment to supporting Maldives’ economic development and infrastructure modernization:

1. Extension of INR 4,850 Crores Line of Credit (LoC):
   India extended a new Line of Credit worth Rs. 4,850 crore to Maldives, aimed at financing key development projects. The agreement was signed between Indian External Affairs Minister Dr. S. Jaishankar and Maldivian Minister of Finance and Planning Mr. Moosa Zameer.
2. Debt Relief Measures:
   India and Maldives signed an Amendatory Agreement to reduce Maldives’ annual debt repayment obligations on previously sanctioned GoI-funded LoCs. This move is expected to ease fiscal pressure on the island nation.
3. Launch of India-Maldives Free Trade Agreement (IMFTA) Negotiations:
   Marking a significant shift in economic ties, both countries agreed to initiate negotiations for a Free Trade Agreement. Terms of Reference were exchanged between Indian EAM Dr. Jaishankar and Maldivian Economic Development Minister Mohamed Saeed.
4. Joint Commemorative Stamp:
   A special stamp was jointly issued to celebrate the 60th anniversary of diplomatic relations between India and Maldives, a symbolic gesture of their enduring friendship.

Key Project Inaugurations and Handovers

The Indian Prime Minister inaugurated and handed over several high-impact development projects aimed at uplifting local communities and enhancing Maldives’ infrastructure:

1. Social Housing Units:
   3,300 social housing units in Hulhumale, financed under India’s Buyers’ Credit facilities, were officially handed over, providing critical housing support to Maldivian citizens.
2. Addu City Infrastructure:
   A modern Roads and Drainage System project in Addu City was inaugurated, significantly improving urban mobility and sanitation.
3. High Impact Community Development Projects (HICDPs):
   Six community development projects were inaugurated, aimed at enhancing grassroots infrastructure and public amenities.
4. Vehicles & Equipment:
   India handed over 72 vehicles and other essential equipment to various Maldivian institutions, further strengthening public service delivery capabilities.
5. BHISHM Health Cubes:
   Two BHISHM Health Cube sets were handed over to Maldives, providing compact, tech-enabled health solutions for remote and underserved areas.
6. Ministry of Defence Building, Malé:
   The new building for the Maldivian Ministry of Defence was inaugurated, a key symbol of growing India-Maldives security cooperation.

Sectoral Cooperation Strengthened Through MoUs

A broad range of MoUs were signed, demonstrating India’s comprehensive development partnership with Maldives:

• Fisheries & Aquaculture:
  A MoU was signed for cooperation in sustainable fisheries between Indian and Maldivian authorities.
• Meteorology & Climate Studies:
  Indian Institute of Tropical Meteorology and Maldives Meteorological Services agreed to collaborate on weather forecasting and climate resilience.
• Digital Governance:
  An MoU was signed to share India’s digital public infrastructure expertise, including Aadhaar and DigiLocker frameworks, to support Maldives’ digital transformation.
• Pharmaceutical Standards:
  Maldives officially recognized Indian Pharmacopoeia (IP), paving the way for enhanced pharmaceutical trade.
• Digital Payments:
  A Network-to-Network Agreement was inked between India’s NPCI International Payments Limited (NIPL) and Maldives Monetary Authority (MMA) to enable Unified Payments Interface (UPI) integration in Maldives, facilitating seamless cross-border digital payments.

A Milestone Visit for Indo-Maldivian Relations

This state visit is seen as a reaffirmation of the deep-rooted ties and shared strategic interests between India and Maldives. From defense to development, digital to climate cooperation, the announcements made during this visit signal a robust and forward-looking partnership in the Indian Ocean region.

The multifaceted engagement is also a testament to India’s “Neighbourhood First” policy, and underscores Maldives’ role as a key maritime and strategic partner in the Indo-Pacific.