Maldives Responds to India’s Crucial Budgetary Support

Maldives has welcomed India’s recent crucial budgetary support, describing it as a gracious gesture. This assistance underscores India’s commitment to supporting the development of its neighboring country.

The Maldivian government expressed gratitude for the aid, highlighting its importance for economic stability and growth. This support is viewed as a positive step in strengthening bilateral relations between the two nations.

Also read: Ashneer Grover Explains Quitting EY in a Day Despite ₹1 Crore Offer

Maldives Foreign Minister Highlights Enduring Friendship

Maldives Foreign Minister Moosa Zameer has expressed gratitude to External Affairs Minister S Jaishankar as the Indian government extended budgetary support to the Maldives with the rollover of the USD 50 million Treasury Bill. He said the Indian government’s announcement demonstrates “enduring bonds of friendship between the both nation’s.”

In a post on X, Mr Zameer stated, “Sincere gratitude to External Affairs Minister Dr. S. Jaishankar and the Government of India for extending crucial budgetary support to the rollover of USD 50 million Treasury Bill. This generous gesture reflects the enduring bonds of friendship between Maldives and India.”

Also read: Prime Minister at Sher-e-Kashmir Stadium Thursday

SBI Subscribes to USD 50 Million Treasury Bills

At the request of the government, the State Bank of India (SBI) has subscribed to the USD 50 million government Treasury Bills (T-bills) issued by the Ministry of Finance for an additional year upon the maturity of the previous subscription on September 19, according to a press release from the Indian High Commission.This year, the Indian government granted a second rollover of the USD 50 million Treasury Bill, following the first rollover on May 13.

The press release states that the government appreciates the support announced by India after Moosa Zameer made a request during his meeting with Mr. Jaishankar in August.