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India extends $50 million budgetary support to Maldives

India extends $50 million budgetary support to Maldives

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Indian High Commission in Maldives has made a big announcement on Thursday. India has decided to extend the treasury bill of about 50 million US dollars for one more year on the request of the Muizzu government of Maldives. This will provide great help to the government here.

According to the information, the Indian government had earlier approved the treasury bill of 50 US dollars on May 13. This is the second consecutive time that India has given financial assistance to Maldives. This decision has been taken after the visit of Foreign Minister S Jaishankar to Maldives.

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Indian High Commission in Maldives said that at the request of the government here, the country’s largest State Bank of India (SBI) has extended the Government Treasury Bill (T-Bill) of US $ 50 million for another year. The Indian High Commission described Maldives as India’s major maritime neighbor and an important partner under India’s ‘Neighbor First’ policy. India has always helped Maldives in times of need and will continue to do so.

After this announcement of India, former Maldives Foreign Minister Abdullah Shahid has expressed happiness. He expressed gratitude to India, calling India a ‘time-tested friend’ and ‘unwavering ally’ of Maldives.

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