Maldives has expressed gratitude to India for offering a Government Treasury Bill of 50 million dollars, which has supported the island nation in its fiscal reform efforts towards economic stability. Maldivian Foreign Minister Abdulla Khaleel posted on X that timely assistance by India reflects the close bonds of friendship between the two countries and will support the government’s ongoing efforts to implement fiscal reforms for economic resilience.

The extension of the subscription, done at the request of the Maldivian government, remains interest-free. Since March 2019, the Government of India has facilitated the annual subscription and rollover of such Treasury Bills by SBI under a unique Government-to-Government arrangement. This measure is part of India’s emergency financial assistance to the Maldives.

Maldives is a key maritime neighbour of India and an important partner in its ‘Neighbourhood First’ policy and Vision MAHASAGAR – Mutual and Holistic Advancement for Security and Growth Across Regions. The Treasury Bill subscription, along with India’s earlier decision this year to extend a special quota for essential commodity exports to Maldives, underscores New Delhi’s enduring commitment to the welfare of the Maldivian people and the strength of bilateral ties between the two nations.