Source link : https://asia-news.biz/asia/maldives/modi-unveils-565-million-credit-boost-to-support-maldives-amid-debt-challenges/
Indian Prime Minister Narendra Modi has announced a $565-million credit line to support the Maldives, a move aimed at alleviating the island nation’s mounting debt challenges. The announcement, made during Modi’s visit to the Maldives, underscores India’s commitment to strengthening bilateral ties and enhancing regional stability amid growing economic pressures faced by the strategically located archipelago. This financial assistance is expected to provide critical relief to the Maldives’ struggling economy while reinforcing India’s role as a key partner in the Indian Ocean region.
Modi Unveils Major Financial Support to Alleviate Maldives Debt Crisis
In a decisive move to stabilize the Maldives’ struggling economy, Indian Prime Minister Narendra Modi has announced a substantial $565 million credit line aimed at easing the island nation’s mounting debt burden. The aid package is designed to provide critical liquidity and support infrastructure development projects, thereby fostering economic resilience. This financial assistance is part of India’s broader strategy to deepen bilateral ties and enhance regional stability amid growing geopolitical challenges in the Indian Ocean.
Key components of India’s financial support include:
- Low-interest credit facility accessible over the next five years
- Funds directed toward energy, tourism, and transportation sectors
- Technical collaboration to improve fiscal management and debt sustainability
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Author : Noah Rodriguez
Publish date : 2025-08-29 09:43:00
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