India to extend $565 mln line of credit to Maldives, PM Modi says

Prime Minister Narendra Modi on Friday said that India has decided to extend a $565 million line of credit to the Maldives. The Indian prime minister also said that a free trade agreement between the two countries have started.Talks on Free Trade Agreement have also begun. Now, our goal is 'from paperwork to prosperity,” PM Modi said. He added that with the local currency settlement system, New Delhi will be able to have direct trade between Rupee and Rufiyaa. Modi  said that India is Maldives' closest neighbour even as he lauded the bilateral relations between the two countries. He further said that the friendship between the two countries “will remain bright and clear.” 

#WATCH | Malé, Maldives: PM Narendra Modi says, "As a new flight to our development partnership, we have decided to extend a Line of Credit of 565 million dollars, around Rs 5000 Crores, to Maldives..."

(Video: ANI/DD News) pic.twitter.com/2U1fytgZwQ

— ANI (@ANI) July 25, 2025

Maldivian President Mohamed Muizzu says, "Maldives will extend its full support for India as the host of COP 33. We recognise India's capability to lead global efforts to a successful and impactful outcome." Muizzu said, Our flagship greater Male connectivity project, once completed, will stand as a lasting symbol of the enduring partnership between India and Maldives.

#WATCH | Malé | Maldivian President Mohamed Muizzu says, "...Our flagship greater Male connectivity project, once completed, will stand as a lasting symbol of the enduring partnership between India and Maldives...I express my sincere appreciation to India for the provision of 72… pic.twitter.com/XUMlEsTpho

— ANI (@ANI) July 25, 2025

Earlier, India and the Maldives exchanged several agreements after delegation-level talks between Prime Minister Narendra Modi and Maldives President Dr Mohamed Muizzu at Male.