India Extends Financial Lifeline to the Maldives with Treasury Bill Rollover
India has extended the repayment deadline for a USD 50 million Treasury Bill issued by the Maldives as emergency financial assistance. This is part of India's consistent support under its 'Neighbourhood First' policy and Vision 'MAHASAGAR', enhancing bilateral cooperation and addressing financial challenges faced by the Maldives.
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India has decided to extend the repayment of a USD 50 million Treasury Bill issued by the Maldives. This decision, backed by the Indian High Commission, was made as part of emergency financial assistance to the Maldives government.
This extension is a continuation of India's ongoing support since March 2019, facilitated by the State Bank of India. The Treasury Bill rollover is part of a broader financial package, including a USD 750 million currency swap facility. G Balasubramanian, Indian High Commissioner, held productive discussions with Maldives' Finance Minister, Moosa Zameer, focusing on enhancing bilateral relations.
The partnership reflects India's 'Neighbourhood First' and 'MAHASAGAR' policies, critical for regional security and growth. Additionally, the Greater Male Connectivity Bridge project, backed by India, was reviewed to ensure successful implementation of bilateral development projects.
(With inputs from agencies.)
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