PM Modi in Maldives: 6 MoUs signed & Rs 4850 crore Loan to Maldives

India and the Maldives have signed six Memorandum of Understanding (MoUs), including a Rs 4850 crore line of credit (LOC) to the Maldives during Prime Minister Narendra Modi's visit to the country. 

A commemorative stamp which celebrated the 60th anniversary of the diplomatic relationship between the two countries was also released by Prime Minister Modi and Maldives President Dr. Mohamed Muizzu jointly. Prime Minister Modi was also the Guest of Honour at the 60th Independence Day celebration of the Maldives in Male.

Prime Minister Modi arrived in the Maldives on 25 July 2025 for a two-day visit after the successful conclusion of his visit to the United Kingdom.

Highlight of PM Modi’s Visit to Maldives 

It was Prime Minister Modi’s third visit to the Maldives, following his visits in November 2018 and June 2019.

PM Modi is the first foreign leader to visit the Maldives after President of the Maldives Dr. Mohamed Muizzu assumed office in November 2023.

On his arrival in Male, Maldives, Prime Minister Narendra Modi was received at the Male airport by Dr Muizzu and his cabinet members and accorded a traditional welcome.

Both leaders held talks on bilateral and other issues. Six MoUs were exchanged between India and the Maldives, and various Indian assisted development projects in the Maldives were inaugurated. 

Six MoUs between India and the Maldives

The following are the Agreements and MoUs signed between India and the Maldives.

1. Cooperation in the field of fisheries and aquaculture,
2. Cooperation in meteorology,
3. Cooperation in digital public infrastructure,
4. Recognition of Ithe Indian pharmacopoeia in the Maldives, which will ensure the availability of Indian medicines in the Maldives.
5. MoU between National Payment Corporation of India International Limited and the Maldives Monetary Authority for the implementation of the UPI payment system in the Maldives
6. Rs 4850 crore as a loan to the Maldives. For the first time, India will provide a loan to the Maldives in Indian Rupees.

Debt Relief for Maldives 

• In a relief to the struggling Maldivan economy, both countries signed an agreement that will reduce the Maldives' loan repayment obligation to India.
• The agreement reduces the annual repayment of Indian loans by the Maldives to $29 million per year from the previous obligation of $ 51 million per year.

Release of Commemorative Stamps 

Both leaders released commemorative stamps on the occasion of the 60th anniversary of the establishment of India-Maldives diplomatic relations.

• India established diplomatic relations with the Maldives following its independence from the United Kingdom on 26 July 1965. 
• The stamp depicts the Indian boat Uru and the Maldivian fishing boat - Vadhu Dhoni.
• Uru is a wooden handcrafted dhow crafted in the Beypore boatyard of  Kerala.
• Vadhu Dhoni is a traditional Maldivian boat used for fishing in coastal and reef waters.

PM Modi, Guest of Honour 

Prime Minister Narendra Modi was the Guest of Honour at the 60th Independence Day celebration of Maldives at the Republic Square in Male.

Independence Day is celebrated annually on 26th July, commemorating the day the Maldives gained full independence from the British in 1965.

Inauguration of Indian Aided Projects in Maldives 

PM Modi formally handed over 3,300 social housing units in Hulhumale that were built under the Indian Buyer's Credit Scheme.

He also gifted 72 vehicles for the Maldives National Defence Force and immigration authorities.

Two units of the Indian made Aarogya Maitri Health Cubes (BHISHM) were gifted to the Maldives. The Aarogya Maitri Health Cubes is the world’s first portable hospital that supports 200 casualties and sustains six personnel for up to 72 hours.

Both leaders inaugurated a roads and drainage project in Addu City and six High Impact Community Development Projects across various cities of the Maldives.

They also inaugurated the Maldives Ministry of Defence building in Male, which was constructed with Indian financial assistance.

Prime Minister Narendra Modi and Maldives President Mohamed Muizzu planted  amango saplings in Male as part of India’s ‘Ek Ped Maa Ke Naam’ (Plant for Mother) initiative and Maldives’s “Pledge of 5 Million Tree Plantation” campaign.

About Maldives 

Location : It is an archipelago of coral atolls in the north-central Indian Ocean. Geographically, it belongs to the South Asian region.

It is a maritime neighbour of India with eight degree channels separating Minicoy island of Lakshadweep from the Maldives.

Capital: Male 

Currency: Rufiyaa

President: Dr. Mohamed Muizzu. 

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