India on Sunday extended a $50-million line of credit to the Maldives for defence projects and the two countries signed an agreement to develop and maintain a key naval facility for the armed forces of the Indian Ocean archipelago.
The agreements for the defence line of credit and developing the harbour at Uthuru Thila Falhu naval base were signed on the second and final day of external affairs minister S Jaishankar’s visit to the Maldives. Five other agreements, including one for a $25-million line of credit for the development of roads, were signed on Saturday. Read More…
