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India has covered an additional $43 million under a $150 million Treasury Bill facility extended to the Maldives through the State Bank of India, as the Maldives completes repayment of the full $150 million principal.
News Desk
The Maldives paid the final $50 million instalment on September 17, completing repayment of the facility.
The $150 million arrangement was made through SBI as budget support during the previous administration. SBI subscribed to Maldivian government Treasury Bills, providing the government with access to the funds.
A Treasury Bill is a short-term government debt instrument used to raise funds. A government issues the bill to an investor, who provides the funds in return for repayment under agreed terms. In this case, the State Bank of India subscribed to $150 million in Maldivian Treasury Bills, giving the Maldivian government access to the funds.
The repayment deadline was extended several times. The first $100 million received six extensions, while the remaining $50 million received four extensions before being fully settled. The $150 million principal was repaid in three instalments of $50 million. The first was paid in January 2024, the second in May 2026 and the final instalment in September 2026.
The SBI facility is part of wider financial cooperation between India and the Maldives. India has also provided a $400 million currency swap facility and an additional ₹30 billion arrangement, supporting the Maldives’ foreign exchange liquidity.
More recently, India subscribed to $350 million in Maldivian Treasury bonds, providing another source of financing for the government. The bonds are scheduled for repayment in 2029 and 2030.
With the $150 million SBI facility now fully settled, the repayment closes one major financial arrangement between the two countries, while India’s broader financial cooperation with the Maldives continues through currency support and investment in Maldivian government securities.
