India offers financial support to Maldives after talks to repair ties

Associated Press

NEW DELHI (AP) — India has stepped up its development assistance to the Maldives after the two leaders held talks in New Delhi in a bid to repair strained ties that saw the president of the Indian Ocean archipelago forging closer relations with China. After the talks, Prime Minister Narendra Modi said Monday that India will offer financial support to the cash-strapped Maldives in form of a $100-million treasury bills rollover. The countries also signed a $400-million currency swap agreement. Tensions between India and the Maldives have grown since President Mohamed Muizzu, who favors closer ties with China, was elected last year.