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India signs $50 million defence pact with Maldives

Feb 21, 2021 17:26 IST

India on Sunday reiterated its commitment to the Maldives' security and signed a USD 50 million defence Line of Credit agreement with it to boost the maritime capabilities of the strategic island nation. The USD 50 million credit line agreement for defence projects was signed between the Finance Ministry of Maldives and the Export Import Bank of India. The signing of the agreement took place after External Affairs Minister S Jaishankar held talks with top Maldivian ministers.