INDIA EXTENDS $50MM BUDGET SUPPORT TO MALDIVES FOR ANOTHER YEAR

The Indian government on Monday provided a budget support to Maldives in the form ofa rollover of USD 50 million Treasury bill

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The Indian government extended budget support to the Maldives by rolling over a USD 50 million Treasury Bill for an additional year, as requested by Maldivian Foreign Minister Moosa Zameer. The State Bank of India subscribed to the Government Treasury Bill for another year upon maturity of the previous subscription. Under this unique Government-to-Government arrangement, SBI provides zero-cost (interest-free) subscriptions to the Government of Maldives, as stated by the Indian High Commi