India Reaffirms Support with $50M Treasury Bill Roll-Over, Says Finance Minister

Minister of Finance and Planning, Moosa Zameer, on wednesday met with the Indian High Commissioner to the Maldives, His Excellency G. Balasubramanian, to discuss strengthening economic cooperation and advancing key development projects between the two nations.

A major outcome of the meeting was India’s confirmation to roll over a $50 million Treasury Bill subscribed by the State Bank of India, which is set to mature on September 18, 2025. The rollover reflects New Delhi’s continued financial backing and confidence in the Maldivian economy.

The discussions also focused on the portfolio of development initiatives supported through India’s Lines of Credit. Both sides reviewed the progress of these projects, acknowledged challenges in their implementation, and agreed on measures to ensure timely completion to maximize benefits for the Maldivian people.

In addition to development financing, the talks explored ways to expand bilateral trade. Officials highlighted the need to identify new opportunities for collaboration and pledged to work toward increasing trade volumes between the two countries.

High Commissioner Balasubramanian was accompanied by Ms. Suja K. Menon, Joint Secretary of India’s Ministry of External Affairs, along with senior officials. The meeting concluded with both delegations reaffirming their commitment to the long-standing partnership, stressing mutual development and prosperity as the cornerstone of Maldives-India relations.