Indian Foreign Minister S Jaishankar will embark on a five-day visit to the Maldives and Sri Lanka -- two of the country's most crucial maritime neighbours -- beginning Saturday.

Several bilateral meetings and inking of different pacts are lined up during the Foreign Minister's visit to the Maldives from March 26 to 27 and Sri Lanka from March 28 to 30, according to the Indian External Affairs Ministry.

The External Affairs Minister (EAM) would be visiting Addu city in Maldives, during which he will call on President Ibrahim Mohamed Solih and hold discussions with his Maldivian counterpart, the Ministry said in a statement.

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"EAM's visit will see the signing of several agreements related to the bilateral development cooperation, inauguration/handing-over and launch of a number of key India-supported projects that will contribute to the socio-economic development of the Maldives and enhance its security," the statement said.

In Colombo, Jaishankar will participate in the Ministerial Meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) on Tuesday, the Foreign Ministry said.

"EAM's visit is testimony to the importance that India attaches to its close and friendly relations with the Maldives and Sri Lanka," it added.

Just days back, India extended a USD 1 billion credit line to Sri Lanka to help the island nation tide over its worst economic crisis while allowing for the import of food, medicines and other essential items.