Government of India Commits US$100 Million Financial Assistance to the Government of Maldives

On Tuesday, the Government of India handed over financial assistance of US$100 Million to the Government of Maldives at a time of economic turmoil in the country. The handover ceremony took place at the Ministry of Foreign Affairs during the hours of Tuesday. The ceremony was graced by the High Commissioner of India, His Excellency Munu Mahawar, Minister of Finance, Ibrahim Ameer and the Minister of External Affairs of India, Dr. S. Jaishankar.

During the meeting, a symbolic cheque was presented on behalf of the Indian Government by the High Commissioner of the Republic of India to the Republic of Maldives, His Excellency, Munu Mahawar. The cheque was received on behalf of the Maldivian Government by the Minister of Foreign Affairs, Abdulla Shahid. The financial assistance of US$ 100 Million committed by India will be provided via subscription in Maldives’ Government Domestic Treasury bonds by State Bank of India, Male’.

Speaking at the ceremony, Minister of Foreign Affairs Abdulla Shahid reflected on the effectiveness of President Solih and his administration’s forward-looking foreign policy and said that it has helped the Maldives regain trust and confidence in the international community. Moreover, the Minister also reminisced about the long-standing historical ties between the Maldives and India, emphasizing the vital role played by India in the progress and development of the Maldives.

The Minister of External Affairs of India, Dr. S. Jaishankar who was taking part in the ceremony via direct videoconferencing also delivered his remarks on the occasion virtually. Furthermore, the Minister of Finance of Maldives, Ibrahim Ameer gave his statement on the assistance as well. The ceremony was attended by members of the Parliament, High Commissioners, senior government officials from the Ministry of Finance and representatives from the High Commission of India in Maldives and the State Bank of India.