India Announces $1.4 billion Package for Maldives, Agreements Signed

India on Monday declared an aid of $1.4 billion to the Maldives. The financial package that was prepared over the last month was formally announced at a joint press conference held by President Ibrahim Mohamed Solih of the Maldives and Prime Minister Narendra Modi.

Mr. Modi said both sides were connected by mutual faith in democracy and development. “Cooperation between our countries is necessary for maintaining stability in the Indian Ocean region and we are willing to take our bilateral relationship to its fullest extent.”