NEW DELHI:
The Maldives has repaid a $150 million loan extended by India, with the final tranche of $50 million in treasury bills settled this week, according to the Ministry of External Affairs.
MEA spokesperson Randhir Jaiswal said the final tranche subscribed by the State Bank of India was successfully settled on September 17. The repayment completes the $150 million facility extended to the Maldives.
The development comes amid continued economic and financial engagement between India and the Maldives. The loan had been subscribed by SBI through treasury bills issued by the Maldivian government.
The repayment was confirmed by the Ministry of External Affairs on Friday. The settlement of the final tranche marks the completion of the financial obligation covered under the $150 million facility.
India and the Maldives continue to maintain cooperation across areas including development assistance, infrastructure, trade and financial relations. The latest repayment is a significant financial development in the bilateral relationship.