Published 18:45 IST, September 20th 2020
'India proved COVID will not let it close its heart to us': Maldives FM over $250 MN aid
Minister of Foreign Affairs for the Maldives Abdulla Shahid thanked India for the USD 250 million financial assistance that they have received to fight COVID
Minister of Foreign Affairs for the Maldives Abdulla Shahid on Sunday thanked India for the USD 250 million financial assistance that they have received to fight COVID-19, remarking that while other countries were closing borders, India had proven that their hearts were open for the Maldivian people. "We are going through a challenge that none of us has faced before. A threat that we have never faced before, a virus that we can not see. A virus that has made countries take tough decisions. Our friend India has proven that the virus will not let it close its heart to us. In such a difficult time, India has emerged as a big friend to us," said Abdulla.
"Grateful to receive the USD 250 million financial assistance from India to the Maldives today. The financial assistance provided through subscription in GoM Domestic Treasury Bonds by SBI will support the financing of the revenue gap, and meet the Government's immediate financing needs," added Abdulla Shahid.
The $250 million package is the largest financial support package announced by a bilateral partner during COVID-19, revealed the Maldives Foreign Minister. "With the $1.4 billion financial package announced in Dec 2018 and the cash grants for community projects, this is by far the largest single donor assistance that Maldives has received," he revealed.
India on Sunday provided a soft loan of $250 million to the government of the Maldives to support the country amid the economic difficulties of the COVID-19 pandemic. The aid was provided by India in response to a request by President Ibrahim Solih to Prime Minister Narendra Modi. As per a statement, from the Indian mission in Male, "The soft loan has a very low-interest rate and can be repaid over 10 years."
Updated 18:45 IST, September 20th 2020