 "'True gesture of goodwill': Maldives thanks India for $50 million support")
The Maldives on Monday thanked India for extending vital budgetary support of $50 million to the island nation, saying it signified the “longstanding friendship” between the two countries.
The Foreign Minister of Maldives, Moosa Zameer, expressed gratitude to External Affairs Minister S Jaishankar and the Centre for the help.
The support, totaling $50 million, was provided through the rollover of a Treasury Bill for an additional year via the State Bank of India, Male’, effective from May 13.
“I thank EAM Dr S Jaishankar and the Government of India for extending vital budgetary support to Maldives with the rollover of $50 million Treasury Bill. This is a true gesture of goodwill, which signifies the longstanding friendship between Maldives and India,” Zameer said in a post on social media platform ‘X’.
Moosa Zameer visited India last week
According to an official press release issued by Maldives, the decision on extending the support was made by the Centre following a request made by Zameer during his official visit to India last week. Zameer was in India on a three-day trip starting May 8, with the purpose of discussing bilateral and regional issues.
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“The Government of Maldives is highly appreciative of the generous support that Government of India has been providing to the Maldives in the form of budgetary support. Large number of infrastructural development projects and High Impact Community Developmental projects are underway with the assistance from the Government of India, which consists of a notable part as grant assistance,” the statement further said.
India-Maldives ties facing rough patch
Notably, the development took place while India-Maldives ties are facing a rough patch since Maldives’ pro-China President, Mohamed Muizzu, assumed office six months back.
The diplomatic ties have remained under stress between the two nations over Muizzu’s insistence on withdrawal of Indian military personnel operating three military platforms in the island nation.
Tourism controversy
In January, a controversy had also erupted after three Maldivian ministers made derogatory remarks about India on social media, in response to Prime Minister Narendra Modi’s call to boost domestic tourism.
The controversy had invited sharp criticism from Indians everywhere, with prominent public figures and celebrities, including Sachin Tendulkar and Akshay Kumar, endorsing domestic travel over international trips.
Despite the controversy, the Centre had allocated a grant of Rs 600 crore to the island nation in the Interim Budget for financial year 2025 (FY25). This was 28.33 per cent lower than the revised estimates for FY24, but 50 per cent higher than the Rs 400 crore allocated in the budget estimate for FY24.