India grants further US$25million to Maldives
11 Sep 2012, 3:36 PM
Daniel Bosley
India has granted a further US$25million to the Maldives as part of the $US100million standby credit facility agreed during last November’s official visit from Prime Minister Manmoham Singh.
Indian High Commissioner D M Mulay signed the agreement with Minister of Finance and Treasury Abdulla Jihad at the Indian High Commission, local media reported.
Mulay, who was not responding to calls at the time of press, said that the deal represented the third instalment of the credit facility, with the previous two instalments having amounted to US$50million.
The previous tranche of US$30 million was released following President Waheed’s first official visit to India in May.
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