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The Economic Times
The Economic Times

India bore USD 45 million interest as Maldives clears USD 150 million facility: MEA

MEA India Maldives Randhir Jaiswal the State Bank of India Bonds Malé SBI

India absorbed nearly USD 45 million in interest payments over five years on a USD 150 million Treasury bill facility extended to the Maldives, even as Malé repaid the full principal amount, the Ministry of External Affairs (MEA) said on Friday.

MEA spokesperson Randhir Jaiswal said the facility, subscribed by the State Bank of India (SBI) in 2019, was extended six times to support the Maldivian government's finances. The final USD 50 million tranche was settled on September 17, completing repayment of the USD 150 million facility.

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