Maldives Expresses Gratitude to India for $50 Million Financial Support
- Maldives thanked India for providing a $50 million Government Treasury Bill to support fiscal reforms.
- Foreign Minister Abdulla Khaleel expressed gratitude to EAM S. Jaishankar and the Indian government.
- India views the Maldives as a key partner in its 'Neighbourhood First' policy and Vision 'MAHASAGAR.'
Maldives, on behalf of the island nation, thanked India for providing a Government Treasury Bill worth $50 million, which has helped the island nation in its efforts towards fiscal reforms for economic stability.
Maldivian Foreign Minister Abdulla Khaleel thanked External Affairs Minister (EAM) S. Jaishankar and the Indian government for providing the timely financial aid.
"I extend my heartfelt appreciation to EAM S Jaishankar and the Govt of India on the extension of vital financial assistance to the Maldives in the form of rollover of the $50 million Treasury Bill. This timely relief is a testament to the strong ties of friendship between the Maldives & India and will aid the government's continued drive towards implementing fiscal reforms for economic resilience", Khaleel shared on X.
As requested by the Government of Maldives, State Bank of India (SBI) has bought for another year a $50 million Government Treasury Bill floated by Maldives Ministry of Finance, informed the High Commission of India, Maldives in a release.
"Since March 2019, the Government of India has been allowing subscription of a series of such Treasury Bills by the SBI and rolling them over, on an annual basis, interest-free to the Government of Maldives. This has been done under a special Government-to-Government arrangement, as emergency financial assistance to Maldives", it added
India views the Maldives as a strategic maritime neighbour and a valuable partner in its 'Neighbourhood First' policy and Vision 'MAHASAGAR' i.e. Mutual and Holistic Advancement for Security and Growth Across Regions.
"India has helped Maldives in times of hardship and the purchase of this Treasury Bill, and, the Government of India's earlier this year extension of the special quota for export of vital commodities to Maldives, are an indication of India's unstinted support to the Government and the people of the Maldives", it added further.
The Ministry of External Affairs (MEA) in February made a provision of Rs 5,483 crore for assistance to other countries slightly more than Rs 4,883 crore for last year's Union Budget 2025-26.
The Maldives witnessed the highest raise in assistance from Rs 470 crore in the revised budget for 2024-25 to Rs 600 crore in 2025-26.
In January, External Affairs Minister EAM Jaishankar, while meeting with Abdulla Khaleel, stated that Maldives is always a 'concrete expression; of India's 'Neighbourhood First' policy and New Delhi has stood with the Indian Ocean archipelago at all times, particularly in providing the latter with finances during difficult situations.
"We have stepped up our engagements across sectors, and I would like to reiterate that India has always supported the Maldives. You are a tangible manifestation of our 'Neighbourhood First' policy", stated EAM Jaishankar.
Khaleel, for his part, had valued the prompt emergency financial aid provided by India to Maldives in times of crisis, an indicator of India's status as the 'First Responder' of Maldives.
He reconfirmed the commitment of the Government of Maldives to closely collaborate with the Government of India in achieving the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership.
