INSUBCONTINENT EXCLUSIVE:
File photo of Maldives foreign minister Abdulla Shahid and Prime Minister Narendra Modi (Picture Courtesy: Twitter @abdulla_shahid)Indian
government on Sunday handed a cheque of USD 250 million (roughly Rs 1,840 crores) as financial assistance to the Maldives
This aid comprised the "largest financial support package announced by a bilateral partner during Covid-19," Maldives Foreign Minister
Abdulla Shahid said.He went on to add, "India has proven time and time again that the Maldives-India partnership will be a high priority!
While the whole world has had to close their borders, and their homes, India has proven that #Covid19 will not force them to close their
hearts to the Maldivian people."Maldivian Foreign Minister Abdulla Shahid also stated that India provided this financial assistance through
the subscription of Government of Maldives Domestic Treasury Bonds through the State Bank of India (SBI)
This move will "support the financing of the revenue gap, and meet the Gov's immediate financing needs," Shahid went on to add.He further
pointed out, "With the USD 1.4 billion financial package announced in December 2018 and the cash grants for community projects, this is by
far the largest single donor assistance the Maldives has received."In August of this year, External Affairs Minister (EAM) Dr S Jaishankar
had told his Maldivian counterpart, Abdulla Shahid, that New Delhi is ready to fund the Greater Male Connectivity Project (GMCB)
This was to be done through a USD 100 million grant and a USD 400 million line of credit.Several analysts have pointed out that this is part
of a larger project to court influence against China in the Maldives
The archipelago commands strategic importance owing to its grip on major shipping routes.Just recently, India welcomed the US-Maldives
On the other hand, India's growing bilateral ties with the Maldives since President Mohamed Solih came to power has led to protests fuelled
