India on Sunday, September 20, announced a $250-million loan to the Maldives to boost its coronavirus-battered economy in a further bid to counter China's growing financial footprint in South Asia.
"The Maldives is at liberty to use the money in repairing the domestic economic situation in line with its own priorities," it said in a statement. Under former president Abdulla Yameen's administration, which was ousted in 2018 elections, the Maldives borrowed some $1.4 billion from Beijing for expensive infrastructure projects, according to Solih's government.
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