World News | SBI Providing USD 16 Million Liquidity Support for Local Businesses in Maldives
Get latest articles and stories on World at LatestLY. The State Bank of India (SBI) is providing liquidity support of USD 16.20 million for local businesses and deferred loan repayment for over 200 retail accounts, the Indian High Commission in the Maldives said on Monday.
Male [Maldives], July 28 (ANI): The State Bank of India (SBI) is providing liquidity support of USD 16.20 million for local businesses and deferred loan repayment for over 200 retail accounts, the Indian High Commission in the Maldives said on Monday.
"SBI's COVID-relief for Maldives -- supporting economic relief measures of Government of Maldives, State Bank of India, largest public sector bank, provides liquidity support of USD 16.20 million for local businesses and defers loan repayment for over 200 retail accounts," the High Commission tweeted.
On the occasion of Independence Day of the Maldives on July 26, Indian High Commissioner Sunjay Sudhir said, "Assistance of USD 400 million through an extended currency swap arrangement has been made available already to tide over liquidity shortage. India will soon announce another substantial financial assistance package to support the Maldivian economy and assist in economic recovery post-COVID-19."
"Ours is an all-weather friendship steeped in history and with a glorious future. 'India First' policy of Maldives and 'Neighbourhood First' policy of India has set the foundation of the growing relationship," he added. (ANI)
Also Read | China-Nepal Railway Project: Chinese Media Releases Visuals of 'Exploration and Survey'.
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)