India extends $50M financial support to Maldives

EAM S Jaishankar (R) with Maldivian counterpart Abdullah Khaleel. Pic/X@DrSJaishankar

India has extended crucial financial support to the Maldives through the rollover of the $50 million Treasury Bill for one more year, a move the Maldivian government said will support its ongoing efforts to implement fiscal reforms for economic resilience.

At the request of the Maldivian government, the State Bank of India (SBI) has subscribed, for one more year, a $50 million Government Treasury Bill issued by the Ministry of Finance of Maldives, the Indian High Commission in the Maldives said in a statement on Monday.

The Maldives is India's key maritime neighbour and an important partner in India's 'Neighbourhood First' policy and Vision 'MAHASAGAR' i.e. Mutual and Holistic Advancement for Security and Growth Across Regions, the statement said. Abdullah Khaleel, the Maldives' Minister of Foreign Affairs, expressed gratitude to India and External Affairs Minister S Jaishankar for extending crucial financial support to his country.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever