India Leads with Action, Not Words — $50 Million Assistance to Maldives Strengthens Bilateral Bond
Malé (The Uttam Hindu): Maldives Foreign Minister Dr. Abdulla Khaleel expressed gratitude to the Government of India and External Affairs Minister Dr. S. Jaishankar for extending a $50 million financial assistance. He acknowledged the strong friendship between India and the Maldives, stating that this support will aid in strengthening the country's economic stability.
On Monday, Dr. Abdulla Khaleel took to social media platform X and wrote, “I sincerely thank Dr. S. Jaishankar and the Government of India for extending critical financial assistance to the Maldives by rolling over the $50 million Treasury Bill.”
He added, “This timely assistance reflects the deep-rooted friendship between the Maldives and India and will support the government’s efforts to implement financial reforms for economic strength.”
Last September, the Indian High Commission in the Maldives had reported that India had extended budgetary support by rolling over a $50 million Treasury Bill for another year, at the request of the Maldivian government.
It is worth noting that Maldivian President Mohamed Muizzu had visited India on a five-day official trip in October last year, following an invitation from President Droupadi Murmu. It was his first official visit after assuming office in November 2023.
President Muizzu had expressed his gratitude for India’s financial support. A statement from the Maldivian President’s Office said, “A key outcome of the visit was the adoption of a 'Vision for Comprehensive Economic and Maritime Security Partnership', which will guide bilateral relations in various sectors.” Both countries also inaugurated projects virtually and exchanged agreements.
The statement further added, “President Muizzu expressed gratitude for India's financial assistance, which included the rollover of T-bills in May and September for one additional year without interest, and additional support of up to USD 400 million under the bilateral currency swap agreement worth INR 30 billion. He thanked India for its continued support.”
