Maldives Foreign Minister Moosa Zameer thanked S Jaishankar for extending support
Male:
As a gesture of goodwill, India has decided to provide crucial budgetary support to the government of Maldives by rolling over a USD 50 million treasury bill for another year at the special request of the Maldivian government, it was reported announced Monday.
The State Bank of India has subscribed to the $50 million Government Treasury Bill issued by the Ministry of Finance of Maldives for another year on the expiry date of the previous subscription, the High Commission of India said in a brief statement on Monday .
The Indian government made the decision despite bilateral ties being in turbulence since Maldives President Mohamed Muizzu, a pro-China leader, took office six months ago.
These government bonds are subscribed by SBI under a government-to-government agreement, a unique arrangement that is free of charge (interest-free) to the government of Maldives.
The continuation of registration has been made at the special request of the Government of Maldives to secure budgetary support from the Government of India, the statement said.
The Maldivian government on Monday thanked India for its support.
“I thank EAM Dr. S. Jaishankar and the Government of India for providing crucial budgetary support to the Maldives with the transfer of US$50 million treasury bills. This is a true gesture of goodwill that symbolizes the long-standing friendship between the Maldives and India,” Foreign Minister said. Moosa Zameer tweeted.
The Government of India has provided budgetary support of US$50 million to the Maldives. The support came in the form of a transfer of $50 million in treasury bills for another year through the State Bank of India, Male, starting from May 13, 2024, the Maldivian Ministry of Foreign Affairs said in a statement.
“The Indian government’s decision to extend the T-Bill came after a request to that effect from Foreign Minister Moosa Zameer to Indian Foreign Minister Dr. S. Jaishankar, during the official bilateral visit to India from May 8 to 10, the statement said.
The Government of the Maldives greatly appreciates the generous support extended by the Government of India to the Maldives in the form of budgetary support. A large number of infrastructure development projects and High Impact Community Development projects are underway with assistance from the Government of India, a significant portion of which consists of grants, the statement said.
The Government of Maldives looks forward to continuing this cooperative partnership for the mutual benefit and prosperity of their people, it said.
Zameer, after returning from the visit, said that significant progress has been made in expediting Indian-backed projects in the Maldives, while underscoring the government’s commitment to prioritizing the resumption and completion of these projects.
It comes amid a deterioration in bilateral ties between the two countries since President Muizzu took office in November and immediately asked India to withdraw around 89 Indian soldiers from the country by May 10. The Indian military operated three aviation platforms on the island. nation.
Zameer said on Saturday that 76 Indian soldiers were replaced by civilian staff from the Hindustan Aeronautics Limited, which manufactured the two helicopters donated by India, also ending tension over the exact number of helicopters repatriated at Male’s insistence.
However, the Maldives government has no intention of removing the doctors in Senahiya from India.
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