New Delhi, April 24 -- India has approved withdrawal of Rs 30 billion for the Maldives under the SAARC Currency Swap Framework, the Indian High Commission in Male said on Thursday, reaffirming New Delhi's role as a key financial partner for its island neighbour.

The drawdown comes on the same day that Maldives settled a $400 million swap facility availed in October 2024 under the US Dollar/Euro Swap Window of the bilateral agreement between the Reserve Bank of India and the Maldives Monetary Authority. The settlement reflects the Maldives government's commitment to meeting its financial obligations, the Maldives Foreign Ministry said.

The Rs 30 billion facility has been released under the INR Swap Window of the 'Framework on Currency Sw...