India expedites financial support to Maldives

MALE: Extending a helping hand to Maldives, which is currently embroiled in a political crisis, India has expedited the delivery of a $20 million stand-by loan.

Indian High Commissioner in Male, D M Mulay, today said that in view of the difficult financial situation in Maldives, the Indian government had expedited delivery of standby loan of $20 million which was handed over by him to the Maldivian government few days back.

The $50 million treasury bonds owed to the State Bank of India by the Government of Maldives has also been rolled over for another year, he said at a press conference here.