Male: India has provided financial assistance of USD 100 million to the Maldives government amid the economic challenges faced by the country.

At the ceremony held at the Ministry of Foreign Affairs in Maldives, a symbolic cheque was handed over by the High Commissioner of India Munu Mahawar to the Minister of Foreign Affairs Abdulla Shahid.

The financial support of US$ 100 million to the Maldives government will be provided through subscription in Maldives' Government Domestic Treasury bonds by SBI, Male.

External Affairs Minister S. Jaishankar participated in the ceremony via videoconferencing and said the special partnership between the two countries "is marked by genuine concern for each other's welfare and interests delivers every single time".

"Joined Foreign Minister @abdulla_shahid &Finance Minister @iameeru at the handover ceremony of financial assistance of USD 100 million to Government of Maldives," Jaishankar said in a tweet.

"Our special partnership is marked by genuine concern for each other's welfare and interests delivers every single time and particularly in the time of need," he added.

Speaking at the event, Minister Shahid highlighted the effectiveness of President Solih's "far-sighted foreign policy" in building the trust and confidence in Maldives for the international community.

He reflected on the significance of the historically close ties between the Maldives and India in providing crucial assistance in the progress and development of the Maldives.

Maldives Ministry of Foreign Affairs said India remains reliable and steadfast in extending assistance to the Maldives.

"The Government of India handed over financial assistance of US$ 100 million to the Government of Maldives to ease the financial challenges. #India remains reliable and steadfast in extending assistance to the Maldives," it said.

The ceremony was attended by Maldives Minister of Finance Ibrahim Ameer.

Member of Parliament, High Commissioners, senior officials from the Ministry of Finance, High Commission of India in Maldives and the State Bank of India also attended the ceremony.