What happened
On September 18, 2025, India extended by one year the repayment deadline of a $50 million Treasury Bill issued by the Maldives government as part of its emergency financial assistance. Since 2019, the State Bank of India has subscribed annually to similar interest-free T-bills at the Maldives’ request under a unique government-to-government arrangement. The rollover comes alongside discussions between Maldives’ Finance Minister Moosa Zameer and Indian officials on strengthening bilateral economic cooperation and expediting Indian Line of Credit–financed development projects.
Why it matters to India
The move underscores India’s “Neighbourhood First” and Vision MAHASAGAR policies, reinforcing its role as Maldives’ key maritime partner. By supporting Maldives’ financial stability and flagship projects like the Greater Male Connectivity Bridge, India strengthens trust and long-term strategic influence in a critical part of the Indian Ocean.