India Extends $50 Million Support To Maldives

India has extended its financial support to the Maldives by rolling over a $50 million Treasury Bill (T-bill) for one more year, reinforcing regional ties. The State Bank of India (SBI) subscribed to this T-bill at the request of the Maldivian government, aiding the country's fiscal reforms and economic resilience.

Since March 2019, India has been facilitating the subscription and rollover of such Treasury Bills under a Government-to-Government arrangement, offering emergency financial assistance to the Maldives. This year’s extension is part of India’s continued commitment to supporting its maritime neighbor, reflecting the close bonds under India’s 'Neighbourhood First' policy.

Maldivian Foreign Minister Abdulla Khaleel expressed gratitude for India’s timely support, emphasizing the importance of this aid in supporting ongoing fiscal reforms. This gesture also highlights the strong relationship between the two nations, further demonstrated by India’s special quota for essential commodity exports to the Maldives.