The Government of India has extended its financial support to the Maldives through the rollover of a USD 50 million Government Treasury Bill, following a request from the Maldivian government.

The subscription has been made by the State Bank of India (SBI) for another year, under an interest-free arrangement facilitated since March 2019.

According to a press release issued by the High Commission of India in Malé, the assistance has been provided as part of a unique Government-to-Government initiative, offering emergency financial support to the Maldives.

The arrangement reflects India’s continued commitment under its “Neighbourhood First” policy and its broader regional vision of ‘MAHASAGAR’, Mutual and Holistic Advancement for Security and Growth Across Regions.

Highlighting the importance of this gesture, the Indian High Commission noted that India has consistently supported the Maldives during times of need.

Along with the Treasury Bill rollover, India had earlier extended a special export quota for essential commodities to the Maldives this year.

In a post on social media platform X, Maldivian Foreign Minister Abdulla Khaleel expressed heartfelt appreciation for the support.

 This marks the second such extension within a year, with the previous rollover occurring in May 2024.