India extends $250 mn support to Maldives to overcome impact of Covid-19

NEW DELHI: India has formally extended the USD 250 million loan to the Maldives to help it mitigate the economic impact of the coronavirus COVID-19 pandemic. The Indian mission in the Maldives said in a statement, "The budgetary support of USD 250 million is extended without conditions."

The grant, provided under the most favourable terms possible, was handed over at a ceremony in Maldivian capital Male in the presence of Maldives Foreign Minister Abdulla Shahid, Finance Minister Ibrahim Ameer, Indian High Commissioner Sunjay Sudhir and CEO of SBI in Male, Bharat Mishra.

It was in response to the request made by President Ibrahim Mohamed Solih to Prime Minister Narendra Modi to overcome the difficult economic situation in the Maldives.