India Helps Maldives with $50 Million Support, Strengthening Friendship
Male [Maldives], September 20: Maldives Foreign Minister Moosa Zameer thanked India’s External Affairs Minister S Jaishankar for extending budgetary support to the Maldives by rolling over a $50 million Treasury Bill. Zameer expressed his gratitude on X, highlighting the strong friendship between the two nations.
The State Bank of India (SBI) subscribed to the $50 million Treasury Bills issued by the Maldives Ministry of Finance for another year, following the maturity of the previous subscription on September 19. This is the second rollover this year, with the first occurring on May 13.
The Maldivian government appreciated India’s support, which came after Zameer’s request during his meeting with Jaishankar in August. The Maldives Ministry of Foreign Affairs emphasized the importance of this support as the country implements a fiscal consolidation program to tackle economic challenges.
The Indian High Commission in the Maldives described the Maldives as a key maritime neighbor and an important partner under India’s ‘Neighbourhood First’ policy. The High Commission noted that India has consistently supported the Maldives, including extending a special quota for essential commodity exports.
India’s relationship with the Maldives faced challenges after President Mohamed Muizzu took office, but recent efforts have aimed to restore ties. Jaishankar’s visit to the Maldives in August included signing MoUs on capacity building and inaugurating six High Impact Community Development Projects (HICDPs).
Doubts Revealed
Maldives -: The Maldives is a small island country in the Indian Ocean, known for its beautiful beaches and clear blue waters.
Foreign Minister -: A Foreign Minister is a government official who handles a country’s relationships with other countries.
Moosa Zameer -: Moosa Zameer is the person who is the Foreign Minister of the Maldives.
External Affairs Minister -: An External Affairs Minister is a government official in India who manages the country’s foreign relations.
S Jaishankar -: S Jaishankar is the person who is the External Affairs Minister of India.
Budgetary support -: Budgetary support means giving money to help another country manage its finances.
Treasury Bill -: A Treasury Bill is a short-term loan that a government takes to raise money.
State Bank of India -: The State Bank of India (SBI) is a big bank in India that helps people and businesses with their money.
Indian High Commission -: The Indian High Commission is like an office that represents India in another country, helping with diplomatic relations.
Maritime neighbor -: A maritime neighbor is a country that is close to another country by sea.
