The Indian High Commissioner to the Maldives, Munu Mahawar, and Ahmed Naseer, Ambassador at Large for the Maldives Ministry of Foreign Affairs, co-chaired a review meeting focused on Indian grant-funded community projects. India supports 65 projects in the Maldives, worth MVR 360 million.
On May 13, the Indian government extended budget support to the Maldives by rolling over a $50 million Treasury Bill for an additional year at the request of Maldivian Foreign Minister Moosa Zameer. This extension was facilitated by the State Bank of India (SBI), which subscribed to the Treasury Bill under a unique Government-to-Government arrangement, providing interest-free support to the Maldivian government.
In a social media post on the platform X (formerly known as Twitter), the Indian High Commission 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 the implementation of 65 community development projects worth MVR 360 million in the Maldives.”
The Maldivian Foreign Ministry expressed gratitude for India’s budgetary support, highlighting the positive impact of this financial assistance on the country’s economic stability. Foreign Minister Zameer thanked Indian External Affairs Minister S. Jaishankar, stating, “I thank EAM @DrSJaishankar and the Government of India for extending vital budgetary support to Maldives with the rollover of the $50 million Treasury Bill. This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India.”
India’s continued financial and developmental support underscores the strong bilateral ties between the two nations, promoting regional stability and mutual growth.
