New Maldives leader secures $1.4bn from India

NEW DELHI: The new Maldives president, seen as closer to the West and India than his predecessor, secured $1.4 billion from New Delhi on Monday in his first visit abroad to his country´s "closest friend".

Ibrahim Mohamed Solih said after talks with Prime Minister Narendra Modi that they would also "strengthen maritime security" through patrols, aerial surveillance and exchanging information. "India is our closest neighbour and our people are bound by ties of friendship and cultural affinity," Solih told reporters.

"Within those close links, trade and commerce have flourished. India is not only our closest friend, it´s also one of our largest trading partners," Solih said. The package of financial assistance is in the form of budgetary support, currency swap agreements and credit lines, Modi said, after what he called "successful talks" to build upon the two countries´ "deep-rooted" friendship. "We want greater trade ties with Maldives. There are increasing opportunities for Indian companies in the island nation. This is beneficial for both the countries," Modi said.