Government of India has reaffirmed its commitment to the development and prosperity of the Maldives by extending a budgetary support of USD 50 million. This support comes in the form of a rollover of a USD 50 million Treasury Bill, facilitated through the State Bank of India (SBI), effective from May 13, 2024, for an additional year.
The decision to rollover the Treasury Bill follows a request made by Minister of Foreign Affairs Moosa Zameer to India’s External Affairs Minister Dr. S. Jaishankar during the official bilateral visit to India from May 8-10, 2024.
The Government expressed its deep appreciation for the ongoing generosity of the Government of India noting this support has been instrumental in advancing various infrastructural and community development projects across the Maldives. Notably, a significant portion of this assistance comprises grant aid, underscoring India’s steadfast commitment to the Maldives' growth and progress.
Government of Maldives expressed eagerness to sustain and strengthen this collaborative partnership for the mutual benefit and prosperity of both nations’ citizens.