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India signs $50 mn defense LoC agreement with the Maldives

Indian External Affairs Minister, S Jaishankar on his two days visit here to the Maldives on Saturday said, “India has signed a $50 million defense Lines of Credit (LoC) agreement with the Maldives to facilitate capabilities building in the maritime domain.”

Confirming the news, S Jaishankar tweeted, “SAGAR in action. welcome the signing of USD 50 million Defence LoC agreement with Maldives. Will facilitate capability building in the maritime domain.”

Further adding to the announcement, S Jaishankar said, “Glad to sign the UTF Harbour project agreement with Mariya Didi. These agreements will further strengthen Maldives coast guard capability, and facilities regional HADR efforts.”

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