India Extends $50 Million Budgetary Support to Maldives, Strengthening Bilateral Ties

Maldives Foreign Minister Moosa Zameer thanked Indian External Affairs Minister S Jaishankar for extending budgetary support through the rollover of a $50 million Treasury Bill. This initiative underscores the enduring friendship between the two nations and follows earlier financial assistance provided by India.

In a significant reaffirmation of bilateral ties, Maldives Foreign Minister Moosa Zameer expressed gratitude to India's External Affairs Minister S Jaishankar as New Delhi extended budgetary support to the Maldives. The support came through the rollover of a USD 50 million Treasury Bill, signaling robust cooperation between the two nations.

Announcing the development on social media, Zameer highlighted the enduring bonds of friendship between Maldives and India. 'Sincere gratitude to Minister @DrSJaishankar and the Government of India for extending crucial budgetary support,' he noted, as the State Bank of India subscribed to the Treasury Bills for another year.

This is the second such rollover this year, preceded by a similar gesture in May. Maldives' Ministry of Foreign Affairs acknowledged the support's timely arrival as they navigate economic challenges, emphasizing India's valued partnership under the 'Neighbourhood First' policy and Vision SAGAR for regional security and growth.

(With inputs from agencies.)