Maldives seeks loan from India to supplement development
Minister Shahid intends to discuss the matter in his meeting with External Affairs Minister Sushma Swaraj
Maldives\' newly appointed Foreign Minister Abdulla Shahid speaking to the press
The Maldivian government is looking for a loan from India to supplement development goals and address massive debts to China, Foreign Minister Shahid has said.
Minister Shahid said in an interview with Strategic News International that the Maldives immediately needs up to USD 350 million for ‘the gap in providing facilities’. Facilities include basics such like access to fresh water and health sector development.
For this purpose, Shahid intends to secure India’s ‘generous’ assistance and to bring the matter up in his meeting with External Affairs Minister Sushma Swaraj.
In his ongoing trip to the neighbouring regional superpower, Shahid said he also intends to address other key issues such as difficulty acquiring visas and the state of Indian expatriates in the Maldives ‘who have contributed immensely to development of our economy’.
"We hope that India will be generous enough to help us…the Indian government is fully equipped to help us deal with issues”, Minister Shahid said.
Shahid said that this need for assistance was ‘conveyed’ to Prime Minister Narendra Modi as well during his visit to President Ibrahim Solih’s inauguration, in the bilateral meeting that followed the ceremony.
Minister Shahid, who headed the ruling coalition’s ‘transition committee’ which oversaw the status of ministerial, government, and state-run offices ahead of President Solih’s inauguration, is also reported to have said that the Maldives is yet to fully gage the extent of its debt to China.
RaajjeMV could not reach the Ministry of Foreign Affairs for a comment on these reports at the time of publishing. However, President Solih has on several occasions said that his government would restore the ‘strong bond’ between Maldives and India.
Outgoing President Abdulla Yameen is accused of having strained relations with India and undermining the ‘India first’ diplomatic policy that was historically upheld by Maldivian governments. The Yameen administration extensively from the Chinese government, and snubbed India amid reports of concern over China’s increasing presence in South Asia.
President Yameen last year signed 12 agreements during a historical visit to China, including the controversial free trade agreement, which his administration guaranteed would bolster tariff-free fish exports. India has said that it is not concerned by the agreement so long as it benefits the Maldives.
