India has reaffirmed its support to the Maldives by extending a crucial $50 million aid for another year. This decision, announced on Monday, underscores India's commitment to strengthening bilateral ties despite recent challenges.
The State Bank of India has agreed to roll over a $50 million Treasury Bill for another year, responding to a special request from the Maldivian government. This financial assistance comes at no cost to the Maldives, as part of a unique government-to-government arrangement.
The Maldivian government expressed gratitude for India's support, emphasizing the enduring friendship between the two nations. This aid, provided through the rollover of the Treasury Bill, aims to bolster the Maldives' budgetary requirements.
The decision to extend the Treasury Bill follows discussions between Maldivian Foreign Minister Moosa Zameer and India's External Affairs Minister Dr. S Jaishankar during an official bilateral visit. The Maldives sees India's support as instrumental in its developmental endeavors, with numerous infrastructure and community projects already underway.
Despite recent tensions, including the request for the withdrawal of Indian military personnel, both countries are committed to maintaining cooperation. The replacement of military personnel with civilian employees signifies a step towards resolving differences and continuing collaborative efforts.
While challenges persist, both governments remain focused on mutual prosperity and the well-being of their people. The Maldives looks forward to further strengthening its partnership with India for shared growth and development.
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