The Government of India has decided to extend the repayment of the USD 50 million Treasury bill borrowed through the State Bank of India (SBI) for another year.

This is the second part of this year's Treasury Bill. The first part was rolled over on May 13, the Foreign Ministry said. Previously, the USD 50 million was due this month.

The Foreign Ministry said today that External Affairs Minister Dr. S. Jaishankar had discussed the matter with the Indian government during his visit to the Maldives from May 8 to May 10.

The Foreign Ministry stated that the Government of the Maldives appreciates the generous assistance being extended by the Government of India in the form of budget support to the Maldives at a time when the Government is working on a fiscal consolidation program to overcome economic challenges.

The ministry said the assistance is yet another symbol of the long-standing importance attached by the Government of India to the Government of Maldives, and the Government of Maldives hopes to further strengthen the relationship for the benefit and prosperity of the people of both countries.