Maldives Extends Gratitude To Indian FM For $50M Budget Assistance

In their statement, the Maldivian Foreign Ministry noted that the Indian government's decision to roll over the T-Bill followed a request made by Maldivian Foreign Minister Moosa Zameer to External Affairs Minister S Jaishankar during his official visit to India earlier this month

Describing it as a “true gesture of goodwill,” Maldives Foreign Minister Moosa Zameer expressed gratitude towards External Affairs Minister S Jaishankar on Monday, following India’s provision of budgetary assistance to Maldives through the rollover of a USD 50 Million Treasury Bill.

Expressing his gratitude, the Maldivian Foreign Minister, in a post on X, wrote, “I thank EAM @DrSJaishankar and the Government of India for extending vital budgetary support to Maldives with the rollover of USD 50 million Treasury Bill.”

I thank EAM @DrSJaishankar and the Government of #India for extending vital budgetary support to Maldives with the rollover of USD 50 million Treasury Bill. This is a true gesture of goodwill which signifies the longstanding friendship between #Maldives and #India. @HCIMaldives… https://t.co/MKeUbs6C0e

— Moosa Zameer (@MoosaZameer) May 13, 2024

“This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India. @HCIMaldives @MEAIndia”, he added.

“State Bank of India has subscribed for one more year the USD 50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription.
These Government Treasury Bills are subscribed by SBI under by SBI under a unique Government-to-Government arrangement at zero-cost (interest-free) to the Government of Maldives,” the Indian High Commission in Maldives said in a statement.

This extension of the subscription has been done at the request of the Maldivian government. “The continuation of subscription has been made at the special request of the Government of Maldives to secure budgetary support from the Government of India,” the statement read.

In their statement, the Maldivian Foreign Ministry noted that the Indian government’s decision to roll over the T-Bill followed a request made by Maldivian Foreign Minister Moosa Zameer to External Affairs Minister S Jaishankar during his official visit to India earlier this month. Additionally, the ministry expressed appreciation for the Indian government’s support for the Maldives through budgetary allocation.

“Large number of infrastructural developmental projects and High Impact Community Developmental projects are underway with the assistance from the Government of India, which consists of a notable part as grant assistance,” the statement read.

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