- विज्ञापन -
Male: The Maldives expressed appreciation to India on Monday for providing a Government Treasury Bill worth $50 million, which has aided the island nation’s efforts toward economic stability through fiscal reforms.
Maldivian Foreign Minister Abdulla Khaleel thanked External Affairs Minister S. Jaishankar and the Indian government for delivering this timely financial aid. Khaleel shared on X (formerly Twitter), “I sincerely thank EAM S. Jaishankar and the Government of India for extending vital financial support to the Maldives through the rollover of the $50 million Treasury Bill. This prompt assistance underscores the strong friendship between Maldives and India and will help support our ongoing fiscal reform initiatives for economic resilience.”
As per a statement from the Maldives’ High Commission in India, the State Bank of India (SBI) has subscribed to another year of the $50 million Treasury Bill issued by the Maldives’ Ministry of Finance upon the government’s request. Since March 2019, India has consistently helped Maldives by subscribing to similar Treasury Bills and rolling them over annually interest-free, under a unique government-to-government arrangement, as emergency financial aid.
India regards the Maldives as a vital maritime neighbor and a key partner within its ‘Neighbourhood First’ policy, aligned with the ‘MAHASAGAR’ vision—aimed at mutual and comprehensive development, security, and growth across regions. The support includes the Treasury Bill subscription and earlier decisions like extending a special export quota for essential commodities to Maldives, reaffirming India’s continued backing.
In February, the Ministry of External Affairs allocated Rs 5,483 crore for foreign aid in the upcoming financial year, a slight increase from Rs 4,883 crore allocated the previous year. The Maldives was the largest recipient, with aid increasing from Rs 470 crore in 2024-25 to Rs 600 crore in 2025-26.
During a January meeting, EAM Jaishankar highlighted that Maldives remains a key example of India’s ‘Neighbourhood First’ policy, reaffirming India’s support, especially during difficult times. Khaleel also acknowledged India’s prompt financial support, calling it the Maldives’ “First Responder,” and emphasized their commitment to continue working closely with India on mutual economic and maritime security goals.
