The Government of India has extended the USD 50 million Treasury Bill, originally due on 19 September 2024, for another year through the State Bank of India in Malé.

This marks the second extension by India this year, following the first rollover of another USD 50 million Treasury Bill on 13 May 2024.

The decision came after Foreign Minister Moosa Zameer requested it during talks between the two governments during the visit of India's External Affairs Minister, Dr. S. Jaishankar, to the Maldives from 8-10 May 2024.

The Government expressed gratitude for India's continued financial assistance, which is especially timely as the country pursues fiscal consolidation to tackle economic challenges.

This gesture underscores India's commitment to the strong bilateral partnership, and the Maldives looks forward to further cooperation for the benefit of both nations.