Maldives FM Moosa Zameer thanks Indian counterpart Jaishankar for USD 50 million budget support
May 13, 2024
Male [Maldives], May 13 : Calling it a "true gesture of goodwill," Maldives Foreign Minister Moosa Zameer on Monday thanked External Affairs Minister S Jaishankar after India extended budgetary support to Maldives in the form of a rollover of USD 50 Million Treasury Bill.
Expressing his gratitude, the Maldivian Foreign Minister, in a post on X, wrote, "I thank EAM @DrSJaishankar and the Government of India for extending vital budgetary support to Maldives with the rollover of USD 50 million Treasury Bill."
"This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India. @HCIMaldives @MEAIndia", he added.
The Indian government on Monday provided budget support to the Maldives in the form of a rollover of the USD 50 million Treasury Bill, for an additional year at the request of Maldivian Foreign Minister Moosa Zameer.
"State Bank of India has subscribed for one more year the USD 50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription.
These Government Treasury Bills are subscribed by SBI under by SBI under a unique Government-to-Government arrangement at zero-cost (interest-free) to the Government of Maldives," the Indian High Commission in Maldives said in a statement.
This extension of the subscription has been done at the request of the Maldivian government.
"The continuation of subscription has been made at the special request of the Government of Maldives to secure budgetary support from the Government of India," the statement read.
The Maldivian Foreign Ministry, in their statement, stated that the Indian government's decision to roll over the T-Bill comes after Maldivian Foreign Minister Moosa Zameer requested the External Affairs Minister S Jaishankar during his official visit to India earlier this month.
The ministry further appreciated the Indian government's support for the Maldives in the form of budgetary allocation.
"Large number of infrastructural developmental projects and High Impact Community Developmental projects are underway with the assistance from the Government of India, which consists of a notable part as grant assistance," the statement read.
