Waheed secures release of additional US$25million credit during India trip
15 May 2012, 7:25 PM
Daniel Bosley
As President Dr Mohamed Waheed Hassan’s first visit to India nears its end, a joint press release from the two governments has summarised the trip.
“The President of Maldives conveyed appreciation for the release of an instalment of US$ 20 million from the Standby Credit Facility from India in February 2012 as well as the rollover of the US$ 50 million State Bank of India (SBI) Treasury Bonds by a year,” the statement read.
The President of the Maldives also thanked the Prime Minister of India for agreeing to an additional release of US$25 million from the Standby Credit Facility to the Government of Maldives,” it continued.
India extended a US$100million credit facility to the Maldives in November last year with the aim of increasing economic ties between the two countries.
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