The Maldives has officially expressed its deep appreciation to India for extending crucial financial support through a $50 million Government Treasury Bill. This assistance is aimed at helping the island nation with its fiscal reforms and efforts to achieve economic stability.
On Monday, Maldivian Foreign Minister Abdulla Khaleel took to social media to thank Indian External Affairs Minister S. Jaishankar and the Indian government for their timely help.
“I express my sincere gratitude to EAM S Jaishankar and the Government of India for extending crucial financial support to the Maldives through the rollover of the $50 million Treasury Bill,” Khaleel posted on X (formerly Twitter).
“This timely assistance reflects the close bonds of friendship between the Maldives and India and will support the government’s ongoing efforts to implement fiscal reforms for economic resilience.”
Continued Support from India
This financial assistance comes in the form of a one-year subscription by the State Bank of India (SBI) to a $50 million Treasury Bill issued by the Maldivian Ministry of Finance. This is not the first time India has extended such help. According to a press release by the High Commission of India in the Maldives, India has been facilitating such financial aid since March 2019.
The Treasury Bills have been rolled over every year, interest-free, under a unique Government-to-Government arrangement. This has been especially useful during emergencies or financial stress, allowing the Maldives to stay afloat and maintain fiscal balance.
India’s gesture is part of its broader foreign policy initiatives, particularly the ‘Neighbourhood First’ policy and the Vision ‘MAHASAGAR’ — which stands for Mutual and Holistic Advancement for Security and Growth Across Regions. These initiatives focus on strengthening ties with neighboring countries and promoting regional cooperation.
Additional Forms of Assistance
Apart from the Treasury Bill subscription, India has also extended special export quotas to the Maldives for essential commodities. This decision reinforces the message that India continues to stand firmly with the Maldivian government and its people during difficult times.
Earlier this year, India’s Ministry of External Affairs (MEA) allocated ₹5,483 crore for aid to foreign nations in the Union Budget for 2025-26. The Maldives saw a notable increase in aid—rising from ₹470 crore in the revised 2024-25 budget to ₹600 crore in the current financial year.
During a meeting in January between Jaishankar and Khaleel, the Indian External Affairs Minister stressed the importance of Maldives in India’s foreign policy.
“We have increased our engagements in various sectors, and I want to emphasise that India has always stood by the Maldives.
