Male: India has approved the first withdrawal of ₹30 billion under its continuing economic and financial assistance to the Maldives, in a move aimed at supporting the island nation’s economic stability, the Indian High Commission said on Thursday.
The funds are being released under the first drawdown of the SAARC Currency Swap Framework, the mission said in a statement on April 24, 2026.
The assistance forms part of India’s broader commitment to back the Maldives amid ongoing fiscal pressures. The SAARC Currency Swap Framework allows member countries to access short-term foreign exchange liquidity support.
The Indian High Commission noted that the drawdown reflects the close bilateral ties and India’s role as a key development partner. The Maldives has been working to strengthen its foreign exchange reserves and manage external debt.
