India to extend budgetary support of $50 million to Maldives.

Economy Business

In a goodwill gesture, India has decided to extend vital budgetary support to the Maldives with the rollover of a $50 million Treasury Bill for another year at the Maldivian government's special request, it was announced on Monday.The State Bank of India has subscribed for one more year to the $50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription, the High Commission of India said in a brief statement on.


      SBI subscribes to Treasury Bills at zero cost to Maldives.

      Maldives incurs no interest expense on the borrowed amount.

     

 

     


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