India Maldives Relations: Officials to review community development projects funding by Indian grant

livemint.com:

Maldives, Munu Mahawar, and Ahmed Naseer, Ambassador at Large for the Maldives Ministry of Foreign Affairs, co-chaired the India-Maldives Review meeting. The officials reviewed Indian grant-funded high-impact community development projects in the Maldives.According to the Indian High Commission in the Maldives, India is supporting 65 community development projects in the Maldives, valued at MVR 360 million.In a post shared on social media platform X (formerly known as Twitter), the Indian High Commission stated, “India Maldives Review meeting co-chaired by HE Ahmed Naseer, Amb-at-large @MoFAmv and @AmbMunu to take stock of Indian grant-funded high impact community development projects #HICDP.

India is supporting implementation of 65 community development projects worth MVR 360 million in Maldives."On May 13, the Indian government extended budget support to the Maldives by rolling over a $50 million Treasury Bill for an additional year, at the request of Maldivian Foreign Minister Moosa Zameer.The Indian High Commission in the Maldives stated, “State Bank of India has subscribed for one more year the $50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription. These Government Treasury Bills are subscribed by SBI under by SBI under a unique Government-to-Government arrangement at zero-cost (interest-free) to the Government of Maldives."“The continuation of subscription has been made at the special request of the Government of Maldives to secure budgetary support from the Government of India," the statement added.The Maldivian Foreign Ministry said that the rollover of the T-Bill came after Foreign Minister Moosa Zameer requested it from Indian External