Maldives secures rollover of $50M Indian T-Bill
During the meeting, both delegations also reviewed ongoing development projects financed through India’s Lines of Credit.
Finance Ministry on Wednesday confirmed that a $50 million Treasury Bill (T-Bill) subscribed by the State Bank of India (SBI) will be rolled over upon maturity on Thursday, following high-level discussions between Maldives and India.
The announcement was made after Minister of Finance and Planning, Moosa Zameer, met with the High Commissioner of India to the Maldives, G. Balasubramanian, Joint Secretary Suja K. Menon, and senior officials from India’s Ministry of External Affairs on Wednesday.
India has been a consistent financier of short-term budgetary support to the Maldives through Treasury Bills subscribed by SBI. These instruments provide immediate liquidity to the government, easing fiscal pressures while longer-term funding is arranged. The rollover of the current $50 million T-Bill underscores India’s continued financial backing and trust in the Maldivian economy.
This is part of a broader framework of financial cooperation between the two countries. In recent years, India has subscribed to several such T-Bills, including arrangements amounting to hundreds of millions of dollars, alongside Lines of Credit for development projects.
During the meeting, both delegations also reviewed ongoing development projects financed through India’s Lines of Credit. These include major infrastructure and community projects such as:
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The redevelopment of Hanimaadhoo International Airport.
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The Greater Malé Connectivity Project (GMCP), a flagship infrastructure initiative connecting Malé with surrounding islands via a bridge and causeway network.
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Island development projects, including water and sewerage facilities across multiple atolls.
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Housing and urban development schemes aimed at improving living standards in both Malé and outer islands.
The discussions focused on overcoming delays and implementation challenges, with both sides agreeing on proactive measures to ensure timely completion.
Beyond financing, the meeting explored ways to enhance bilateral trade relations. Both governments reiterated their commitment to expanding trade volumes and identifying new areas for economic cooperation, reflecting the long-standing partnership between Maldives and India.
