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PRESIDENT MUIZZU THANKS PM MODI FOR RS 30 BILLION AID AND USD 400M SWAP

The Business Guardian

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October 08, 2024

NEW DELHI aldives President Mohamed Muizzu on Monday thanked Prime Minister Narendra Modi for Indian government's decision to provide support in the form of Rs 30 billion (USD 360 mn), in addition to USD 400 million bilateral currency swap agreement.

- TBG NETWORK

PRESIDENT MUIZZU THANKS PM MODI FOR RS 30 BILLION AID AND USD 400M SWAP

"I am thankful for the Indian Government's decision to provide support in the form of 30 billion Indian Rupees in addition to 400 million US Dollars bilateral currency swap agreement which will be instrumental in addressing the foreign exchange issues we are facing right now," Muizzu said.

PM Modi and Muizzu held bilateral and delegation-level talks at Hyderabad House in the national capital today.

Following the talks India today granted cash-strapped Maldives a USD100 million Treasury bills roll over, in addition to both sides inking a USD 400 million and Rs 3,000 crore currency swap agreement.

Describing the "development partnership" as an important pillar of New Delhi-Male ties, Prime Minister Modi asserted that India has always given preference to the priorities of the people of Maldives.

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