HLL Lifecare Ltd Signs Agreement with Maldives' STO to Supply Essential Medicines Under PMBJP Initiative.

MOUs and Agreement

In May 2025, HLL Lifecare Limited, a Government of India (GoI) enterprise under the Ministry of Health & Family Welfare (MoH&FW), signed a strategic agreement with the State Trade Organisation Plc (STO), a Government of Maldives enterprise responsible for the import and distribution of essential goods.


      - The agreement was signed under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), GoI’s flagship initiative aimed at providing affordable, high-quality medicines to the public.

      - Under this agreement, India has pledged its support to the Maldives by ensuring the supply of essential medicines through HLL Lifecare Limited.

     

Main Point :-   (i) PMBJP was launched in November 2008 by the Department of Pharmaceuticals (DoP) under the Ministry of Chemicals & Fertilizers (MoC&F), in collaboration with Central Pharma Public Sector Undertakings (PSUs).

      (ii) The GoI has extended its financial support to the Maldives via the rollover of a USD 50 million Treasury Bill for another year. This highlights the strong bilateral ties and supports the Maldives’ ongoing fiscal reforms.

(iii) State Bank of India (SBI), headquartered in Mumbai, Maharashtra, and India’s largest Public Sector Bank, has subscribed for one more year to a USD 50 million Government Treasury Bill issued by the Ministry of Finance (MoF) of Maldives, at the request of the Government of Maldives.
About Maldives

President: Mohamed Muizzu
Capital: Malé
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