Officials of India, Maldives hold review meeting, take stock of Indian grant-funded community development projects

According to the Indian High Commission in Maldives, India is supporting the implementation of 65 community development projects worth MVR 360 million in Maldives.

In a post shared on X, the Indian High Commission in Maldives stated, "India Maldives Review meeting co-chaired by HE Ahmed Naseer, Amb-at-large @MoFAmv and @AmbMunu to take stock of Indian grant-funded high impact community development projects #HICDP. India is supporting implementation of 65 community development projects worth MVR 360 million in Maldives."

Earlier on May 13, the Indian government provided a budget support to Maldives in the form of a rollover of USD 50 million Treasury Bill, for an additional year at the request of Maldivian Foreign Minister Moosa Zameer.

"State Bank of India has subscribed for one more year the USD 50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription. These Government Treasury Bills are subscribed by SBI under by SBI under a unique Government-to-Government arrangement at zero-cost (interest-free) to the Government of Maldives," the Indian High Commission in Maldives said in a statement.

This extension of the subscription was done at the request of the Maldivian government. "The continuation of subscription has been made at the special request of the Government of Maldives to secure budgetary support from the Government of India," the statement read.

The Maldivian Foreign Ministry, in their statement, stated that the Indian government's decision to roll over the T-Bill came after Maldivian Foreign Minister Moosa Zameer made the request to the External Affairs Minister S Jaishankar during his official visit to India earlier this month. The Maldives Ministry of Foreign Affairs appreciated the Indian government's support for the Maldives in the form of budgetary allocation.

Maldives Foreign Minister Moosa Zameer on Monday thanked EAM Jaishankar after India extended budgetary support to Maldives in the form of a rollover of USD 50 Million Treasury Bill.

Expressing his gratitude, the Maldivian Foreign Minister, in a post on X, wrote, "I thank EAM @DrSJaishankar and the Government of India for extending vital budgetary support to Maldives with the rollover of USD 50 million Treasury Bill."

"This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India. @HCIMaldives @MEAIndia", he added. (ANI)