India has today announced a loan facility of 500 million dollars to Mauritius. At the same time, both the countries have decided to increase the maritime security cooperation in the Indian Ocean region.

After detailed talks between India's Prime Minister Narendra Modi and Prime Minister of Mauritius Pravind Jagannath, the maritime security agreement between the two countries was signed.

According to a statement issued in New Delhi, Modi said that he and Jagannath have agreed that to take advantage of economic opportunities and to provide security to the people of both countries to deal with traditional and non-conventional hazards in the Indian Ocean.

The Prime Minister of India said, "We have to increase our surveillance towards the incidents of piracy. This has an impact on our business and tourism. The illegal exploitation of narcotics and human trafficking, illegal fisheries and other types of marine resources will also have to be monitored."

He said that bilateral maritime agreement will strengthen mutual cooperation and capacity.

Mauritius Prime Minister Jagannath said on this occasion, the two countries will have to ensure that the path of maritime traffic is safe and regular monitoring will be done to prevent piracy, illegal fishing and to prevent drug trafficking.

It was also decided to expand the operating age of the Coast Guard Naval Ship Guardian on this occasion. This ship has been given to Mauritius under a grant assistance program. During his visit to Mauritius in March 2015, Modi had handed over the Barua Kuda Shipping vessel built and financed for offshore patrol in India to Mauritius Coastguard during his visit to Mauritius.

Four agreements were signed after the talks between the two leaders. Apart from the Marine Security Agreement, three other agreements have been taken. These included establishment of Civil Services College in Mauritius, cooperation in marine research work and a agreement loan facility in the US dollar.

The Prime Minister of India said that Mauritius is a good example of our strong and consistent commitment to the development of the loan facility agreement.

Both countries have also decided to increase cooperation in many areas including trade and investment. Modi said, "India is proud of the active participation in development activities in Mauritius." He said that during the interaction, emphasis was given on cooperation in skill development.

Reiterating Mauritius's support for India's membership in the United Nations Security Council, Jagannath welcomed the support of his country's claim on the Chagos Archipilego by New Delhi. Both the UK and Mauritius claim the Chagos Archipilego located in the Indian Ocean.

There was a discussion between the two leaders on the Comprehensive Economic Cooperation and Partnership Agreement (CECPA). Jagannath expressing satisfaction over the start of the discussion on this issue said that Mauritius is expected to complete this conversation by the end of this year.

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