India extends financial support to Maldives via rollover of USD 50 million Treasury Bill

The Government of India has extended support to India's maritime neighbour, Maldives, by rolling over the USD 50 million Treasury Bill, the High Commission of India to the Maldives said in a statement on Monday.

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Foreign Minister of the Maldives, Abdulla Khaleel, expressed gratitude to the Indian government and hailed the timely assistance which "reflects the close bonds of friendship" between the two countries, ANI reported yesterday (12)

In the statement shared on X, the High Commision of India to the Maldives said, "India extends financial support to the Maldives through the rollover of the USD 50 million Treasury Bill.

According to the statement, after the request by the Government of the Maldives, the State Bank of India (SBI) has subscribed, for one more year, a USD 50 million Government Treasury Bill issued by the Ministry of Finance of the Maldives.

It was noted that since March 2019, India has been facilitating subscription of several such Treasury Bills by the SBI and rolling them over, annually, interest-free to the Government of the Maldives.