Male – In a reaffirmation of its strong bilateral ties, India has extended crucial financial support to the Maldives by rolling over a USD 50 million Treasury Bill for another year. The move, facilitated through the State Bank of India (SBI), is expected to bolster the Maldives’ ongoing fiscal reform efforts aimed at achieving economic resilience.
The Indian High Commission in Male confirmed on Monday that the Treasury Bill, originally issued by the Maldivian Ministry of Finance, has been renewed for a further 12 months at the request of the Maldivian government. This support forms part of an ongoing arrangement under which India has facilitated the interest-free subscription of such T-bills since March 2019.
I express my sincere gratitude to EAM @DrSJaishankar and the Government of #India for extending crucial financial support to the #Maldives through the rollover of the USD 50 million Treasury Bill.
This timely assistance reflects the close bonds of friendship between #Maldives &…
— Abdulla Khaleel (@abkhaleel) May 12, 2025
“This initiative is part of a unique Government-to-Government framework, designed to provide emergency financial assistance to the Maldives,” the statement said.
Highlighting the strategic nature of the bilateral relationship, the High Commission emphasized that the Maldives is a key maritime neighbour and a vital partner in India’s ‘Neighbourhood First’ policy and its broader regional maritime vision, ‘MAHASAGAR’ – Mutual and Holistic Advancement for Security and Growth Across Regions.
The Indian government’s continued financial and economic assistance, including the earlier extension of a special quota for the export of essential commodities to the Maldives, underscores its enduring commitment to supporting the Maldivian people during critical times.
Maldivian Minister of Foreign Affairs Abdulla Khaleel expressed appreciation for the timely assistance. “We are grateful to India and to External Affairs Minister Dr. S. Jaishankar for this crucial financial support,” he said. “This timely assistance reflects the close bonds of friendship between Maldives and India and will aid our government’s fiscal reform agenda.”
A Treasury Bill “rollover” involves reinvesting the funds from a maturing T-bill into a new one, thereby extending the financial arrangement without disbursement of fresh funds, yet providing sustained liquidity to the issuing government.