President's Office announced that Maldives and India are set to exchange agreements on the launch of four key projects on Wednesday afternoon.
According to the office, all the projects would be officially launched by President Ibrahim Mohamed Solih and the Indian Prime Minister Narendra Modi, via a live video conference.
Among these projects, the Indian government will gift an in-shore patrol vessel by the name of CGS Kaamiyaabu to the Maldives National Defence Force (MNDF) Coast Guard.
In addition, the two countries will exchange agreements under the High Impact Community Development Projects, which targets socio-economic development and improvement of public welfare. As part of this agreement, a project will be launched to develop Neighbourhood Fish Processing Plants in three islands of Addu City.
Maldives and India will also exchange agreements for the use of RuPay Card in the Maldives. Rupay Card is an Indian domestic card conceived and launched by NPCI in 2012 to reduce the monopoly of foreign gateways like Visa and MasterCard by lowering the transaction costs.
Moreover, the Indian government will gift LED streetlights to Male' City, as part of the collaboration between the two countries in the field of energy efficiency and renewable energy.
President Solih and PM Modi will also deliver remarks during the conference held to launch the aforementioned projects.
This is the first time Maldives is exchanging bilateral agreements with another country via video conferencing, which is set to be simulcast live as well.