STO's Managing Director Husen Amru has expressed his gratitude towards India, noting India's budget finance aid to Maldives with USD 100 million.
While the agreement on the Indian government's USD 100 million budgetary support had been signed recently, this was a financial assistance given to Maldives to aid with the recovery from the current economic crisis.
The Managing Director of STO Husen Amru has stated that the USD 100 million aid given by India shows the close friendship between the two nations. Amru thanked India for always aiding Maldives in its endeavors.
President Ibrahim Mohamed Solih had asked for the budgetary support when he met the Prime Minister of India Narendra Modi in his official visit to India in August this year.
The budgetary support is being provided through a Treasury Bond sale to the State Bank of India (SBI). India has given this aid without any conditions for the Maldivian government to use as it sees fit to rise above the current economic state. For this financial assistance, India has provided a Sovereign Guarantee to SBI.
While the agreement on the Indian government's USD 100 million budgetary support had been signed recently, this was a financial assistance given to Maldives to aid with the recovery from the current economic crisis.
The Managing Director of STO Husen Amru has stated that the USD 100 million aid given by India shows the close friendship between the two nations. Amru thanked India for always aiding Maldives in its endeavors.
President Ibrahim Mohamed Solih had asked for the budgetary support when he met the Prime Minister of India Narendra Modi in his official visit to India in August this year.
The budgetary support is being provided through a Treasury Bond sale to the State Bank of India (SBI). India has given this aid without any conditions for the Maldivian government to use as it sees fit to rise above the current economic state. For this financial assistance, India has provided a Sovereign Guarantee to SBI.
