PM attends Maldives's 60th Independence Day celebrations, leaves for India
During this two-day visit by the Indian Prime Minister, both nations signed a number of Memorandums of Understanding (MoUs) to deepen cooperation in various sectors. PM Modi also signed an agreement to extend a new Line of Credit (LoC) worth Rs 4,850 crore to the Maldives. Apart from this, an amendatory agreement was signed to reduce the Maldives' annual debt repayment obligations on previous Indian-funded LoCs, providing further financial relief to the nation.Memorandums of Understanding (MoUs) signed between the two nations include agreements on fisheries and aquaculture, meteorological collaboration between India's Institute of Tropical Meteorology and the Maldives Meteorological Services aong with the sharing of scalable digital governance solutions to promote digital transformation.Furthermore, a network-level agreement was concluded between NPCI International Payments Limited and the Maldives Monetary Authority to bring India's Unified Payments Interface (UPI) to the Maldives, strengthening financial connectivity. - EndsTune In
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