The financial support from India is a temporary solution for the foreign exchange reserve of the Maldives, said former President Mohamed Nasheed.
He made the statement in reference to the financial aid handover today.
The Government of India handed over financial assistance of US$ 100 million to the Government of Maldives, in a ceremony held at the Ministry of Foreign Affairs today. The financial assistance is being provided through a Treasury Bond sale to the SBI, Male. The budgetary support of USD 100 million is extended without conditions; the Government of Maldives is at liberty to use the money in repairing the domestic economic situation in line with its own priorities.
Meanwhile, Parliament Speaker and former President Mohammed Nasheed described India's $100 million budget support to the Maldives as a temporary solution to the country's foreign exchange reserves.
“The Indian government's $100 million loan to support Maldives's budget is a huge help at the moment. A temporary solution to the disappearing foreign exchange reserves. Thank you, India!” Nasheed said in a tweet.
He made the statement in reference to the financial aid handover today.
The Government of India handed over financial assistance of US$ 100 million to the Government of Maldives, in a ceremony held at the Ministry of Foreign Affairs today. The financial assistance is being provided through a Treasury Bond sale to the SBI, Male. The budgetary support of USD 100 million is extended without conditions; the Government of Maldives is at liberty to use the money in repairing the domestic economic situation in line with its own priorities.
Meanwhile, Parliament Speaker and former President Mohammed Nasheed described India's $100 million budget support to the Maldives as a temporary solution to the country's foreign exchange reserves.
“The Indian government's $100 million loan to support Maldives's budget is a huge help at the moment. A temporary solution to the disappearing foreign exchange reserves. Thank you, India!” Nasheed said in a tweet.
