- Auditor General refers to prosecute Jihad regarding MVR 300 million loan issue
- Govt Oversight Committee to decide on cabinet approval issue on 23 Dec
- President Yameen Ratifies Anti-Human Trafficking Bill
- Minister at the President’s Office Scheduled to Attend OIC Council of Foreign Ministers Session
- Baros Maldives celebrates its 40th anniversary
- It is a worry if authorities don’t take action against law breakers- Shameem
- Gasim proved his love for the nation in the Presidential election- Ameen
- Many challenges even after catching illegal expats- Immigration
- All basic items will be sold cheap if all due payments are settled- Adam Azim
- National Flag to be flown at half-mast following death of former President of South Africa
- Vice President praises Nelson Mandela as a model of leadership for equality and rights
- Several issues regarding the school system would be resolved in time for new academic year – Vice President
- “Nelson Mandela was a source of Unrivalled Inspiration for Recent Generations” – President Yameen
Additional US$ 25 million fiscal support from India to Maldives
During the visit of Prime Minister of India Dr. Manmohan Singh to Maldives in November 2011, the Government of the Republic of India and Government of the Republic of Maldives signed an agreement wherein the Indian government agreed to extend a US$ 100 million credit facility to Maldives to be operated through the State Bank of India.
From the said credit facility, US$ 50 million was earmarked for import of goods & services from India and the other US$ 50 million to be utilized as deemed appropriate by the Government of Maldives. Accordingly, Government of India released a sum of US$ 50 million in two installments of US$ 30 million in 2011 and another US$ 20 million on 27thFebruary 2012 directly to the Government of Maldives.
Further to the recent request received from the Government of Maldives to seek an additional US$ 25 million as fiscal support for Maldives from the credit facility, the Government of India has agreed to provide the same. Accordingly, the addendum to amend the Agreement on the US$ 100 million Standby Credit facility was signed today at the High Commission of India in Male by the Indian High Commissioner Dnyaneshwar M.Mulay and Minister of Finance & Treasury Abdulla Jihad. The additional Indian fiscal support to the Government of Maldives is expected to be made available shortly.