MeraNews Network, New Delhi: Prime Minister Narendra Modi on Monday announced a financial aid of $ 1.4 billion to the Maldives after holding wide-ranging talks with Ibrahim Mohammed Solih, the president of the Maldives, who is on a three-day visit to New Delhi starting Sunday.

India and Maldives signed four agreements on various fields after delegation-level talks between PM Modi and President Solih. Addressing the press, PM Modi said that the delegation level talks were constructive and they agreed to further strengthen bilateral ties. He welcomed new visa agreement between India and Maldives. He said India is with the Maldives to ensure development especially economic development in the island nation.

The visiting dignitary was accorded ceremonial reception at the forecourt of the Rashtrapati Bhawan in the presence of President Ram Nath Kovind and Prime Minister Narendra Modi on Monday morning. External Affairs Minister Sushma Swaraj also called on President Solih.

Solih’s visit comes nearly a month after Modi attended the Maldivian president’s swearing-in ceremony in Male. The financial package announced by PM Modi will help Maldives meet its immediate and some medium-term budgetary requirements.