India-Maldives sign $50 million defence deal
India and the Maldives today signed a $50 million defence Line of Credit (LoC) agreement to boost maritime capabilities of the strategically-located Indian Ocean island nation.
The signing of the agreement took place after Indian External Affairs Minister S Jaishankar held talks with several Maldivian minister including its Defence Minister Mariya Didi.
"A $50 million-dollar credit line agreement between the government of Maldives and EXIM Bank India was signed for defence projects," said a joint statement as visiting Indian external affairs minister ended his two-day visit to the Maldives.
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