The Maldivian government showed its appreciation to the Indian government on Monday for the budgetary assistance worth $50 million. This is what the support was: the State Bank of India in Male capital gave for the State Bank of Trivandrum’s security of tanning around the waters in Turfd for 1 year; a $ 500 million treasury bill was included in the support.
According to the press release from the Maldivian government, the Government of India has given the Maldives budget support of USD 50 million today. The support was a lift-off of a USD 50 million Treasury Bill for another year through the State Bank of India, Male, from 13 May 2024.
The extension of the treasury bill rollover was decided after Maldivian Foreign Minister Moosa Zameer asked his Indian counterpart, S Jaishankar, during his recent visit to New Delhi to his request. Moosa Zameer, the Foreign Minister, expressed his gratitude, saying, “I am thankful to EAM Dr. S Jaishankar and the Government of India for their support in granting the Maldives with the rollover of $50 million Treasury Bill.
This is a true act of goodwill, depicting the longstanding friendship between the Maldives and India. The press release by the Maldivian finance ministry showed that the Indian government’s decision to roll over the treasury bill was made after the Foreign Minister of the Maldives, Moosa Zameer, made the request during his official visit to India from 8-10 May 2024.
The Maldivian government said that the Indian government was very much appreciated for its generous support to the Maldives, including the grants for the development of the infrastructure and community projects.
They stressed that they would still be able to work together for the good and prosperity of both countries.A specific government-to-government agreement has allowed the State Bank of India to issue zero-interest government treasury bills to the Maldivian government.
