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India announces USD 250 million financial support for Maldives

Shortpedia

Content Team
Image Credit: shortpedia

India has announced USD 250 million support to the Maldives through a soft loan arrangement. It was announced by the External Affairs Minister Dr S Jaishankar. The assistance will shore up liquidity, ease exchange rate fluctuations and provide the much-needed budgetary support to the Govt of Maldives to mitigate the impact of the economic crisis caused by COVID-19. New Delhi has also provided 6.2 tonnes of essential medicines.