ECONOMIC DIPLOMACY — India pledges $500 million economic aid for Maldives

India on Thursday pledged a $500 million economic package to fund a major infrastructure development project in the Maldives amid growing Chinese influence in the Indian Ocean region.

The financial assistance, which includes a grant of $100 million and a $400 million new line of credit, will support the Male connectivity project to link the Maldives capital with three nearby islands of the country, the Indian foreign ministry said.

Source: efe.com , English edition