India to announce financial package to aid Maldives’ economic recovery
India has already provided 400 million dollars financial assistance to overcome its currency crisis
India will soon announce a "substantial financial assistance package" for Maldivian economy which will help the country in its post-COVID economic recovery after a loss in tourism revenues, a report by LiveMint has said.
Relations between India and Maldives were an “all-weather friendship steeped in history and with a glorious future,” the report quoted a statement by the Indian High Commission in Male as saying on the occasion of the Maldivian Independence Day on Sunday.
"India first policy of Maldives and Neighbourhood first policy of India has set the foundation of the growing relationship," the statement said, according to the report.
While efforts are on to further strengthen India-Maldives relations, India has already provided 400 million dollars financial assistance to this Indian Ocean country to overcome its currency crisis.
The LiveMint report also said that about 6.2 tons of essential medicines and 600 tons of food items were delivered to Maldives under Operation Sanjeevani from New Delhi even during the Covid-19 epidemic.
India will soon announce another substantial financial assistance package to support the Maldivian economy and assist in its post-Covid economic recovery, the High Commission’s statement was quoted as saying.
The LiveMint report pointed out that in December 2018, India had provided a $1.4-billion financial assistance package to Maldives to strengthen India-Maldives ties.
The statement came a day after India’s Reserve Bank of India concluded the necessary formalities to extend a $400 million currency swap facility to Sri Lanka under a regional framework.
Read the complete report in LiveMint