India budgets USD 36.3 mn in aid to Maldives

Indian government has allocated USD 36.3 million (MVR 559.7 million) in aid to Maldives from its foreign aid budget under review for by the parliament.

Minister of Finance of India, Arun Jaitley presented the State budget for 2017 to the lower house of parliament last Wednesday, February 1.

The budget includes approximately USD 2,224.426 million (MVR 2.1 billion) in foreign aid, which is USD 20.44 million more than last year.

Aid allocated to some foreign countries have been decreased 14 percent, but the aid allocated to Maldives has been increased to USD 36.3 million (MVR 559.7 million) for 2017.

The budget is, however, under review by the parliament. And some changes are expected to be made.

India is a long-time partner of Maldives, and awards numerous assistance to Maldives each year. It awarded MVR 182 million in non-reimbursable financial aid in 2016, and MVR 125 million in non-reimbursable financial assistance to Maldives in 2015.

Major projects run by India in Maldives includes the repair work on Indhira Gandhi Memorial Hospital.