"Sincere Gratitude": Maldives As India Extends $50 Million Budgetary Support

SBI bought the Treasury Bill under an agreement signed by the previous government. SBI has bought a total of USD 200 million in Treasury Bills for USD 50 million for each one, the Adhadhu news portal reported.

In a goodwill gesture, India on Thursday said it has decided to rollover a USD 50 million Treasury Bill for an additional year upon the request of the Maldives government. Sincere gratitude to External Affairs Minister @DrSJaishankar and the Government of #India for extending crucial budgetary support to the Maldives with the rollover of USD 50 million Treasury Bill.This generous gesture reflects the enduring bonds of friendship between…

"At the request of the Government of Maldives, the State Bank of India (SBI) has subscribed the USD 50 mn Government Treasury Bill (T-bills) issued by the Ministry of Finance of Maldives, for a period of one more year from the date of maturity of the previous subscription, September 19, 2024," the High Commission of India in Maldives said in a press release.

SBI bought the Treasury Bill under an agreement signed by the previous government. SBI has bought a total of USD 200 million in Treasury Bills for USD 50 million for each one, the Adhadhu news portal reported.