India’s help of $500 million infra project and $250 million financial aid to Maldives

With its eye on China, India on Thursday focused on the Maldives a five-pronged bundle including infrastructure worth $500 million, an immediate cargo ferry service, formation of an air travel bubble, continuous supply of essential commodities, and extra financial guide of $250 million to help the cash-strapped economy.

These were among the key takeaways as External Affairs Minister S Jaishankar held a point by point meeting with Maldives Unfamiliar Minister Abdulla Shahid.

Previous President of Maldives Mohamed Nasheed, who is as of now Speaker of Majlis (Maldives’ parliament), attacked China for their debt-trap discretion. “The super ease improvement assistance declared by @DrSJaishankar today is actually what the Maldives needs. Authentic assistance from a companion, to assist us with building basic infrastructure. As opposed to eye-wateringly expensive commercial loans that leave the nation buried in debt. @PMOIndia,” he tweeted

alluding to Chinese loans to the previous Yameen government.

Maldives President Ibrahim Mohamed Solih considered it a “milestone second”, while Head administrator Narendra Modi said, “Our special friendship is, and will always stay, as profound as the waters of the Indian Ocean.”

Responding to a request from the Maldives government, New Delhi chose to support the execution of Greater Malé Connectivity Task (GMCP) through a financial bundle consisting of an award of $100 million and a new credit extension of $400 million.

This will be the largest nonmilitary personnel infrastructure venture in the Maldives, interfacing Malé (the capital) with three neighboring islands — Villingili, Gulhifalhu (where a port is being worked under Indian credit extension) and Thilafushi (new industrial zone) – by the construction of a bridge-and-causeway link spanning 6.7 km.
“Once completed, this landmark project will streamline connectivity between the four islands, thereby boosting economic activity, generating employment and promoting holistic urban development in the Malé region,” a statement by the Ministry of External Affairs said.