Today, the Government of India extended a crucial lifeline to the Maldives by providing a budget support of USD 50 million. This assistance was manifested in the form of a rollover of a USD 50 million Treasury Bill, facilitated through the State Bank of India in Male', with the new maturity date set for 13 May 2024.
The decision to rollover the Treasury Bill underscores India's steadfast commitment to bolstering the Maldives' economic resilience and stability. The initiative comes on the heels of a request made by Maldives' Foreign Minister, Moosa Zameer, to India's External Affairs Minister, Dr. S. Jaishankar, during an official bilateral visit to India from 8-10 May 2024.
Expressing deep gratitude, the Government of Maldives lauded India's unwavering support, particularly in the realm of budgetary assistance. Notably, a significant portion of India's assistance to the Maldives is channeled into infrastructural developmental projects and High Impact Community Developmental initiatives, which are pivotal for driving socio-economic progress in the island nation.
The collaborative partnership between the Maldives and India holds immense potential for fostering mutual prosperity and advancing the well-being of their respective populations. With a shared vision for inclusive growth and sustainable development, both governments remain committed to further strengthening their ties for the collective benefit of their people.
As the Maldives continues on its path towards economic recovery and resilience-building, the renewed support from India serves as a testament to the enduring friendship and solidarity between the two nations.
The decision to rollover the Treasury Bill underscores India's steadfast commitment to bolstering the Maldives' economic resilience and stability. The initiative comes on the heels of a request made by Maldives' Foreign Minister, Moosa Zameer, to India's External Affairs Minister, Dr. S. Jaishankar, during an official bilateral visit to India from 8-10 May 2024.
Expressing deep gratitude, the Government of Maldives lauded India's unwavering support, particularly in the realm of budgetary assistance. Notably, a significant portion of India's assistance to the Maldives is channeled into infrastructural developmental projects and High Impact Community Developmental initiatives, which are pivotal for driving socio-economic progress in the island nation.
The collaborative partnership between the Maldives and India holds immense potential for fostering mutual prosperity and advancing the well-being of their respective populations. With a shared vision for inclusive growth and sustainable development, both governments remain committed to further strengthening their ties for the collective benefit of their people.
As the Maldives continues on its path towards economic recovery and resilience-building, the renewed support from India serves as a testament to the enduring friendship and solidarity between the two nations.
