India Pledges ₹4,850 Crore Line of Credit to Maldives as Nations Celebrate 60 Years of Diplomatic Ties

Male: India and the Maldives commemorated 60 years of formal diplomatic relations on Wednesday with a series of high-level engagements that signaled a renewed focus on development, partnership, and regional cooperation. Marking the occasion, Prime Minister Narendra Modi announced a fresh line of credit worth ₹4,850 crore (approximately USD 565 million) to support key infrastructure and development projects in the island nation.

During a joint ceremony in Male with Maldivian President Mohamed Muizzu, Prime Minister Modi described the India-Maldives relationship as “deeper than the sea and older than history,” reflecting the profound cultural and strategic links between the two countries. Modi highlighted India’s commitment to being a reliable and responsive partner, citing the country’s support to the Maldives during critical moments like the COVID-19 pandemic and economic challenges.

“Our relations are not just about diplomacy or politics. They are rooted in shared culture, geography, and mutual respect,” Modi said. He also emphasized the importance of the Maldives in India’s “Neighbourhood First” and “MAHASAGAR” (Maritime Cooperation) visions.

To commemorate the milestone, the two leaders released a set of joint postal stamps featuring traditional boats of both nations — a symbolic gesture reflecting centuries of shared maritime heritage and cooperation.

President Muizzu described PM Modi’s visit as a “moment of great pride,” coinciding not only with the anniversary of diplomatic ties but also the Maldives’ 60th Independence Day. He announced that the newly signed agreements — including four MoUs and three bilateral treaties — would facilitate development in priority sectors such as infrastructure, health, and energy.

“This credit line is a lifeline for our development priorities. India continues to be a true partner in our national growth story,” Muizzu stated.