India Has extended Maldives’ $ 5 million short -term credit facility (Treasury Bill) for another year. This move of India has given Maldives a major and important financial assistance. The Maldives government said that the move would help its current efforts to implement fiscal reforms for economic strength. At the request of the Maldives government, the State Bank of India (SBI) has bought the US $ 50 million government treasury bill released by the Finance Ministry of Maldives for another year.
Government of India is providing facility to Maldeep since March 2019
The Indian High Commission in Maldives gave this information in a statement on Monday. The Government of India is facilitating SBI to buy many such treasury bills from March 2019. The Maldives government is carrying forward interest freely on an annual basis. The statement said, “This has been done under a particular government system as emergency financial assistance to Maldives.” Maldives Foreign Minister Abdullah Khalil has given India and Union Foreign Minister S. Has thanked Jaishankar.
Last year too, India had helped Maldives twice
Let us tell you that India had earlier helped Maldives in September 2024 and May 2024 in the same way. India helped Maldives by extending a $ 50 million Treasury Bill for another year at the request of the Maldives government in September. SBI subscribed to the Maldives’ Finance Ministry on 19 September for another year after the maturity of the last subscription. Similarly, in May last year, India extended a $ 50 million Treasury Bill for another year at the request of Maldives for another year.
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