India extends budgetary support of $50m to Maldives | India News

NEW DELHI: Following the recent visit of Maldives foreign minister Moosa Zameer, India has extended budgetary support of $50 million to the island nation. The support is in the form of a roll-over of $50 million Treasury Bill for an additional year, through the State Bank of India, Male, from May 13, 2024.
Thanking his counterpart S Jaishankar for the support, Zameer said this was a “true gesture of goodwill” which signified the long-standing friendship between the two countries.
“Govt of India’s decision to roll over the T-Bill came following a request to that effect made by foreign minister Moosa Zameer to India’s external affairs minister . Jaishankar, during the official bilateral visit to India from 8-10 May, 2024. The Govt of Maldives is highly appreciative of the generous support that Govt of India has been providing to the Maldives in the form of budgetary support,” said the Maldives in a statement.
Large number of infrastructural developmental projects and high impact community developmental projects are under way with the assistance of India, which consists of a notable part as grant assistance.
“The Govt of Maldives looks forward in continuing this collaborative partnership for the mutual benefit and prosperity of their people,” said the Maldivian govt in a statement.


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