The Maldives has thanked India for rolling over the first withdrawal of Rs 30 billion under the INR currency swap agreement. Foreign Minister Iruthisham Adam praised EAM S Jaishankar and the Government of India, and credited President Mohamed Muizzu's leadership. India approved the extension earlier on Friday as part of its 'Neighbours First' policy, under a framework signed between the RBI and the Maldives Monetary Authority in October 2024. The first drawdown was made on April 23 this year, and the 2024–27 framework offers concessions such as favourable interest rates. Since 2012, the RBI has provided aggregate swap support of more than $1.1 billion to the Maldives.
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