भारत ने मालदीव को 50 मिलियन डॉलर की बजटीय सहायता दी

भारत ने मालदीव को 50 मिलियन डॉलर की बजटीय सहायता दी

India extends budgetary support of $50m to Maldives

India offers $50m budgetary support to Maldives, strengthening bilateral ties and supporting economic development initiatives in the nation.

  • National News
  • 62
  • 14, May, 2024
Jivika Chawla
Jivika Chawla
  • @JivikaChawla

India extends budgetary support of $50m to Maldives

Following the recent visit of Maldives Foreign Minister Moosa Zameer, India has extended $50 million in budgetary support to the island nation. This assistance comes in the form of a roll-over of a $50 million Treasury Bill for an additional year, facilitated through the State Bank of India, Male, effective from May 13, 2024.

Expressing gratitude to his Indian counterpart, S. Jaishankar, Minister Zameer characterized this support as a genuine gesture of goodwill, underscoring the enduring friendship between the two countries. The decision to extend the Treasury Bill was initiated following Minister Zameer's request to Minister Jaishankar during their bilateral visit to India from May 8 to May 10, 2024.

In response, the Maldives government conveyed deep appreciation for India's consistent and generous support, emphasizing its crucial role in the island nation's development endeavors. The support from India extends beyond financial aid, encompassing a wide array of infrastructural and community development projects, many of which are funded through grant assistance.

The Maldives government sees this collaborative partnership as integral to the mutual benefit and prosperity of both nations. The ongoing cooperation reflects a shared commitment to fostering economic growth, infrastructure development, and community welfare in the Maldives.

India's commitment to supporting the Maldives' developmental aspirations underscores the strength and depth of bilateral relations between the two countries. The extension of budgetary support further solidifies the strategic partnership, reinforcing India's position as a key ally and supporter of the Maldives' socio-economic progress.

As both nations look ahead, the collaborative efforts and mutual assistance between India and the Maldives are poised to drive sustainable development and prosperity for their respective populations.

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Jivika Chawla

Jivika Chawla

  • @JivikaChawla