Amid troubled ties, Maldives appreciates India’s fiscal help

Sandeep Dikshit

New Delhi, May 13

India’s budget support of $50 million to the Maldives on Monday, a few days after the visit of its Foreign Minister Moosa Zamir despite strained political ties between the two nations, has come in for high praise from the government of Mohamed Muizzu.

The support is in the form of a rollover of $50 million Treasury Bill, for an additional year, through the State Bank of India, Male, the Maldives government announced.

“The Government of India’s decision to roll over the Treasury Bill came following a request to that effect made by Foreign Minister Moosa Zameer to India’s External Affairs Minister S Jaishankar, during the official bilateral visit to India from May 8 to 10,” said an official statement.

“The government of Maldives is highly appreciative of the generous support that the Government of India has been providing to the Maldives in the form of budgetary support. A large number of infrastructural developmental projects and High Impact Community Development projects are underway with assistance from the Government of India, which consists of a notable part as grant assistance,” it added.

$50 mn Treasury Bill

• Maldives said the support was in the form of a rollover of $50 million Treasury Bill, for an additional year
• The Muizzu government said it looked forward to continuing this collaborative partnership for the benefit of people