Maldives Foreign Minister Thanks India For $50 Million Financial Support

The Government of the Maldives on Monday expressed deep gratitude to India for extending a $50 million Government Treasury Bill.

The bill plays a vital role in supporting the island nation’s fiscal reform initiatives aimed at economic stability.

Maldives Foreign Minister Expresses Gratitude

Maldivian Foreign Minister Abdulla Khaleel thanked India’s External Affairs Minister S Jaishankar and the Indian government for the timely assistance.

“I express my sincere gratitude to EAM @DrSJaishankar and the Government of #India for extending crucial financial support to the #Maldives through the rollover of the USD 50 million Treasury Bill,” Khaleel posted on social media platform X.

The post further added, “This timely assistance reflects the close bonds of friendship between #Maldives & #India and will support the Government’s ongoing efforts to implement fiscal reforms for economic resilience.”

State Bank Of India Subscribes To Treasury Bill

The Maldivian government requested SBI to subscribe to a $50 million Treasury Bill, and SBI complied.

The High Commission of India in the Maldives confirmed that SBI will roll over the subscription for another year.

Since March 2019, India has facilitated annual, interest-free SBI subscriptions under a government-to-government arrangement for emergency financial aid.

India Reaffirms ‘Neighbourhood First’ Commitment

The tri-nation views the Maldives as a key maritime neighbour and partner in its ‘Neighbourhood First’ policy and Vision ‘MAHASAGAR’.

“India has assisted the Maldives in times of need, and the rollover of this Treasury Bill, along with the extension of a special quota for the export of essential commodities to Maldives, reflects India’s continued support,” the Indian High Commission added.

In the Union Budget 2025-26, India increased its aid allocation for foreign nations to ₹5,483 crore, up from ₹4,883 crore the previous year.

The Maldives received the largest hike, with assistance rising from ₹470 crore in the revised 2024-25 budget to ₹600 crore for 2025-26.

Strengthening Bilateral Partnership

In January, EAM Jaishankar called the Maldives a ‘concrete expression’ of India’s ‘Neighbourhood First’ policy.

He reiterated India’s consistent support, especially during challenging times.

Foreign Minister Khaleel praised India for its timely emergency assistance and acknowledged India’s role as the Maldives’ ‘First Responder’.

He reaffirmed the Maldivian government’s commitment to advancing its Joint Vision with India for economic and maritime security.

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