India provides USD 100 million as budget support to the Maldives
The Indian government has provided a USD 100 million loan as budget support via a treasury bond sale.
The symbolic cheque was handover by Indian High Commissioner Munu Mahawar to Maldivian Foreign Minister Abdulla Shahid on Tuesday in a special ceremony. The Indian external affairs minister Dr. Jaishankar joined the ceremony virtually.
Speaking at the ceremony Dr. Jaishankar stated the following budgetary support will help achieve rapid growth.
India’s ‘Neighbourhood First’ and Maldives ‘India First’ policies have worked in concert to deliver a partnership that is as solid as it is special, which always produces results, especially in the face of daunting challenges and above all one that responds to the wishes, aspirations and priorities of our peoples
Said Dr. Jaishankar
According to the Ministry of Foreign Affairs, this financial assistance was part of discussions with the Government of India during President Ibrahim Mohamed Solih's official visit to India from August 1-4 this year.
The Ministry of Foreign Affairs stated the USD 100 million financial assistance will be provided by the State Bank of India through investment in a treasury bond of the government.
India has already provided financial assistance to the Maldives in the form of budgetary support.
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